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Extra money in my account-what do we think it is?
Old 04-03-2020, 05:32 AM
  #1

On Monday, March 23rd I had $399 automatically deposited into my checking account and it says it's from "Tax products". It's not what either my state or federal refund should be from. I called my bank to see if they could tell what it was from and they told me it was a refund. No, it isn't.

Today I got my state refund and it says, "State of IL".

So, what do we think that $399 is? And if we don't know, where do we suggest I go to find out? I don't object to an extra $400, but I want to know before I do something with it.

TIA.


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Lucky you!
Old 04-03-2020, 05:34 AM
  #2

I would say put it aside in a savings account in case someone comes looking for it. Could it be a scam?
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Old 04-03-2020, 05:54 AM
  #3

Could it be a refund from the person/entity that does your taxes? Did they maybe make a withdrawal to your account but then have to refund for some reason ?
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Old 04-03-2020, 06:01 AM
  #4

I used Turbo Tax so I don't know.
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Old 04-03-2020, 06:07 AM
  #5

Did you use the free version of TurboTax or a paid version? If you upgraded and used a paid version could it be your return minus the fees you owe TurboTax?

Look at the last response here:
https://ttlc.intuit.com/community/af...-llc/00/251955


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Old 04-03-2020, 06:08 AM
  #6

Don't some tax companies give you like an upfront loan of sorts until the refund actually comes in. Could it be that?
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Old 04-03-2020, 06:33 AM
  #7

I would leave it there. My guess is that you will eventually hear from someone (legal or illegal) who deposited it. Do not respond to emails, texts or requests to refund this money. Instead call your bank directly, explain what happened and what they could do for you in this situation. This could be a scam to gain access to your bank account so dont be a victim. Money isn’t just given to us without a reason. There is a reason so just wait...
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Old 04-03-2020, 06:49 AM
  #8

not a clue--but please let us know what it was when you find out!
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Old 04-03-2020, 06:59 AM
  #9

Thatís really weird and would be driving me crazy.

The other day I received a check for $287 from the IRS. It said Iíd overpaid on my 2020 taxes and that an explanation would be coming in a few days. It also scared me by saying if I havenít really overpaid, Iíll owe them this money and interest. What???

H&R Block did my taxes. I paid almost $12,000 to the IRS. And now theyíre going to make me crazy over less than $300? Itís been a few days and I can already see the explanation wonít be in todayís mail.

Good luck, my friend. Donít spend it yet.
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Old 04-03-2020, 07:12 AM
  #10

Turbo Tax charging when they shouldn't, fill out the form and you should get your money back. Maybe (probably not though) it has something to do with that even though you didn't fill out the form.


Hope it's really yours. Let us know.


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Deposit
Old 04-03-2020, 07:18 AM
  #11

One tax year I mistakenly used the wrong account number for my refund. When I noticed the refund wasnít deposited, I went to the bank to investigate. They found the deposit in someone else's account and transferred it to mine.

Iím extra careful now. Plus, there are more checks in place than year's ago. I also use Turbo Tax.
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Old 04-03-2020, 07:28 AM
  #12

Your parents sent you chocolate money?
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Old 04-03-2020, 08:02 AM
  #13

That money from the IRS is probably legit. This exact thing happened to us last year. We owed quite a bit of money and paid early in the year. A few months later, we got a check from the IRS and a notice saying that an explanation would be forthcoming in the mail.

That letter came quite a few days later, and the money was a refund for an overpayment. You might wait a bit to deposit the check until you receive the letter, but don't stress or worry over it. I'm sure it's fine.
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Job withholding?
Old 04-03-2020, 08:07 AM
  #14

I should qualify that pp's explanations sound better, but...

Did you recently switch districts?

Did your old district already take out more taxes and this is their refund?

Like you my federal and state refunds are clearly labelled last federal and state refunds.
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Old 04-03-2020, 10:11 AM
  #15

This was a deposit, not a withdrawl. I did switch districts, but if it had come from my district it would have shown my district. My state refund was clearly labeled State of IL and my federal hasn't come yet. It's a mystery I tell you. I guess I'm going to have to get my uncooperative bank to do some digging.
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