Already Received My Refund but IRS Account Shows Another Deposit Coming May 17?

This is likely an adjustment to your original refund. The IRS often does this when they find a calculation error in your favor or determine you qualified for a credit you didn't claim. Check your account transcript for codes 290, 291, or 971. These indicate an adjustment was made. The May 17 date is when they'll process the additional payment. Don't spend it yet though - sometimes these pending deposits change or disappear if it was indeed a system error.

This happened to me last year! I got my regular refund in February, then suddenly saw another deposit pending for April. Turned out they had adjusted my Child Tax Credit amount. I called the IRS right away to confirm it was real before I counted on the money. Waited on hold for HOURS. Wish I'd known about Claimyr back then (https://youtu.be/_kiP6q8DX5c) - my sister used it last week and got through to an agent in 20 minutes when she had a similar situation. You need to call ASAP before that May 17 date in case there's any issue they need to resolve!

Have you checked if you received all the tax credits you were eligible for on your original return? Looking at the calendar, May 17, 2024 is exactly 60 days after the standard filing deadline of March 18, 2024. This timing often indicates a correction or adjustment. Did you claim the Recovery Rebate Credit, Earned Income Credit, or have any education expenses? The IRS sometimes catches these things during their review process that occurs between April 15 and May 31.

Have you looked at your actual tax transcript to see what's causing this additional refund? I was in a similar situation last month and couldn't figure out why I was getting extra money. I used https://taxr.ai to analyze my transcript and it immediately showed me it was an adjustment to my mortgage interest deduction that I'd calculated incorrectly. The tool explained exactly which line on my return was changed and why I was getting additional money. Saved me so much confusion! Have you checked your transcript yet?

Be careful. Could be a glitch. IRS systems have issues. Especially this time of year. Don't count on that money. Seen this before. Sometimes disappears without explanation. Check again tomorrow. Might show something different.

Nah, this is def legit! I had the exact same thing happen last yr. The IRS found I missed a credit and sent me extra $$ without me even asking. Their computers are actually pretty good at catching stuff we miss. Tbh I was shocked when I got the extra deposit - thought it was a mistake at first but it was 100% correct. Just make sure to check ur transcript for the explanation code so u know what it's for!

I strongly advise against assuming this is free money. I had a similar phantom deposit appear in my account last tax season. It showed a $1,240 deposit pending for three weeks, then suddenly disappeared. When I finally reached an IRS representative, they explained it was a system error during their annual maintenance cycle. The representative confirmed there was a known issue with the Account Management System displaying erroneous pending transactions. Document everything you see now with screenshots in case you need to reference it later.