IRS 1040 refund we did not deserve.
6/7/21
In May 2021 I received a refund from the IRS for more than $50,000, presumably estimated taxes refunded from my form 1040 for the 2020 tax year. I filed my joint 2020 form 1040 in March 2021 and promptly had received my requested refund by direct deposit. However, I never paid that second refund amount. Are other people getting similar undeserved refunds?
What should I do about this excess refund?
Terry Says
Here’s what the IRS says:
If your refund was a direct deposit:
Contact the Automated Clearing House (ACH) department of the bank/financial institution where the direct deposit was received and have them return the refund to the IRS.
You’ll find the entire explanation here.
