My Stimulus Check Amount Was Incorrect

If you suspect that your payment is wrong the first thing you should do is figure out what your stimulus check amount should be.

My stimulus check amount was incorrect. Your stimulus check is reduced by 5 of the amount over the phase out floor. W as your stimulus check the wrong amount. Calculate the proper amount.

Can my stimulus check be wrong. 130 million americans have received stimulus checks so far according to the treasury department providing a much needed cash infusion to individuals. If you believe the amount of your stimulus check is incorrect here s what to know about fixing it.

So it s looking to your 2018 or 2019 tax return assuming you were required to. If you are a single filer no children and earn 80 000 your check is reduced by 5 of 5 000 250. Maybe you got the right amount after all.

But since this is an urgent situation the government is using the information it already has to determine the amount you get now. The irs explained that if your stimulus check is for less than what you think you should ve received you ll be able to claim the additional amount when you file your 2020 tax return next year. What to do if your stimulus check is for the wrong amount our mission to help you navigate the new normal is fueled by subscribers.

The check is technically an advance payment of a refundable credit on your 2020 tax return which you won t have to file until april 15 2021. This is particularly important for individuals who may be entitled to the additional 500 per qualifying child dependent payments the irs noted in its answer.