I know if one receives a check for the wrong amount, one can avoid interest fees by not cashing it. What about a direct deposit?
I recently filed my Federal 1040 electronically. I had zero tax liability but had a $204 refund amount due to a 1st quarter estimated tax payment.
Today, on my "online" bank account, I note a "US Treasory 220" Pending Direct Deposit in the amount of $904. Usually I won't get the payment advice for weeks.
Is there anything I can do expeditiously to find out if this is my $204 refund plus an extra $700 for an unknown reason?
Or am I stuck until they ask for their money back, if the $700 is in error, or provide the documentation showing where that extra $700 came from?
--ron