Tax refund too big?!?

[Mighty Favog]

O.k,. so I just saw where the IRS did the direct deposit to my checking account for my 2009 tax filing.

Now here's the wierd part.....THEY GAVE ME TOO MUCH BACK!!.. as in to the tune of $400 too much.

Is there some sort of "rebate" or stimulous money being handed out to people that make under $30k a year?? (but yet still work )

[vintage_tube]

The only thing that comes to mind, specifically, one that says $400 is the following & maybe you didn't take advantage of it:

"Making Work Pay Credit" of up to $400 and specifics follow:

**For people with wage and self-employment income
**6.2% of your wage and self-employment income
**Capped at $400 ($800 is married and filing jointly)

There is more to it -- but that jumps out at me when you mentioned $400 overpayment.

Bob

[Mighty Favog]

Thanks Bob.

I see where it mensions the "Making Work Pay Credit" on line 40. I followed Schedule M as it says and ran the numbers but they don't add up at all.

Guess I'll wait and see what happen sin about 9 or 10 months (the same time it took last time there was a mistake on my taxes)

[masanori]

I just recieved my k1. I owe 35k to the IRS

[Face]

My return is 25% smaller this year, I don't know what happened.

[Mighty Favog]

Update.....

A friend ran all the numbers through Turbo Tax and it turns out that the extra $400 is right. Something about not filling out "Schedule M" but they added it anyway.

[Still-One]

Originally Posted by Mighty Favog

Update.....

A friend ran all the numbers through Turbo Tax and it turns out that the extra $400 is right. Something about not filling out "Schedule M" but they added it anyway.

Schedule M must be for Money..

[80B]

New 2-part simplified form 1040:

1. What you made: $_____
2. Input line 1 here - you owe $_____

[Rilands]

Originally Posted by masanori

I just recieved my k1. I owe 35k to the IRS

I'd get a new accountant that could assure this not happen again next year.