Stimulus Payment Was Wrong Amount

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.

Stimulus payment was wrong amount. As forbes points out the internal revenue service irs regularly updates their frequently asked questions page. But since this is an urgent situation the government is using the information it already has to determine the amount you get now. My first stimulus went into my bank account news 8 contacted h r block which said in some cases money was sent to a different account than the first stimulus payment last spring.

W as your stimulus check the wrong amount. Millions of americans are still waiting to get their coronavirus stimulus payments. Can my stimulus check be wrong.

Getty the irs has begun making stimulus payments to many americans including paper checks and some are not getting the amounts they expected. The economic impact payments eip better known as stimulus checks are being issued in the amount of 600 per adult or 1 200 for a joint return and 600 per qualifying dependent child. Be aware however customer support phonelines currently have a long wait.

However if you feel your payment was for the wrong amount rigney recommends keeping any paper. Be aware that some people have reported their second stimulus payment like their first went to their tax preparer instead of their personal checking account. Calculate the proper amount.

If you used a third party company to help you file your 2019 taxes and get a refund you may want to reach out to them. The answer explains that you will be able to. So it s looking to your 2018 or 2019 tax return assuming you were required to.

If you suspect that your payment is wrong the first thing you should do is figure out what your stimulus check amount should be. The government stimulus payments are tax free and will not count as income on your 2020 returns. Recently they added a question to address incorrect stimulus payment amounts.