Refund Amount Lower Than Expected - Transcript Shows Nothing Owed?

This happens all the time. IRS makes math corrections. They don't always notify you. Check your return math. Look for calculation errors. They might have adjusted credits. Could be a Recovery Rebate adjustment. Maybe Child Tax Credit changes. Worth investigating further.

Did you claim any tax credits this year? The difference is specific enough that it looks like an adjustment to a credit amount rather than a random error. Check line 28 and 29 on your 1040 and compare it to what you submitted.

I'm experiencing the exact same issue with my refund. My Adjusted Gross Income was $52,674 and I claimed the Earned Income Credit for my qualifying child. The IRS reduced my refund by $217 which is significantly impacting my budget for home repairs this month. I've checked all my tax documents multiple times and can't find any discrepancies in my calculations.

You might want to consider calling the IRS directly, though in my experience, the wait times can be quite frustrating, especially during tax season. I recently used Claimyr (https://youtu.be/_kiP6q8DX5c) which possibly saved me hours of hold time. They essentially wait in the phone queue for you and call when an agent is available. It could be worth it if you're trying to resolve this relatively quickly, as the IRS can usually explain exactly what adjustments were made to your return.

Have you checked if there might be a state tax offset? Sometimes state debts can be collected from federal refunds without showing on your federal transcript. I had this happen last year with an old parking ticket I'd forgotten about!

This is way more common than you'd think. My refund was $341 less than what TurboTax calculated, while my brother's was spot on. Called the IRS and found out they adjusted my education credits because I accidentally claimed expenses that were paid in January 2024 instead of December 2023. Unlike some other tax situations where they send notices, these small math corrections often happen without explanation. Super annoying compared to how my state processes returns with detailed explanations for every change.