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Are you eligible for an additional cost with the third stimulus check? What to know



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The IRS is now sending “plus-up” payments as it processes the 2020 taxes. This is what it means for the total of your stimulus control.

Angela Lang / CNET

The IRS has been sending out a new wave of stimulus controls this week, including ‘plus payments’ – incentive money the agency may owe you if it exceeds your allocation of the $ 1,400 third payment based on older tax data instead of your Tax return 2020But if you already have your check, are you still eligible for a surcharge? How do you know if yours is on the way? And when could that catch-up money come? (Here is how to track your payment online and through the post

If the IRS has used older information to calculate your payment so to determine your eligibility for a third check, you may owe more money once the agency processes your 2020 tax return. That’s where extra payments come in – they’re something new to stimulus checks, and entirely due to the fact that the $ 1,400 payments are delivered mid-day. tax season

But what can you expect if you do did not file tax in 2019, or do you have 2020 will return(Unless you request an extension, you must submit it to the new deadline of May 17.) What if your circumstances have changed since the last time you applied, such as when you earned less income in 2020 or if you had a babyWe have the details you need. Here are also nine unusual stimulus check facts, what we know about a fourth stimulus control and debt cancellation of student loans, and how calculate your total check amount of the Child discount 2021This story was recently updated.

Why you may get an additional cost for your stimulus check

For taxpayers, stimulus checks are based on your adjusted gross income, or AGI, from your most recent tax return. There are several reasons why the IRS may owe you an additional payment for your third stimulus check. Note that if you owe money from the first two stimulus controls, you must claim it in your 2020 taxes as a Credit for chargeback discountThe surcharge applies to the third check only. You can get an allowance if:

  • The IRS calculated your third check based on 2019 taxes (or earlier), but you owe more money based on your 2020 taxes.
  • You are a load nonfiler, but you have submitted new information in a tax form for 2020 to notify the IRS qualified dependents which the agency may not know about.
  • Your first payment didn’t include all of your family members, such as one new baby


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Here’s how to find out if you qualify for an additional payment

The IRS automatically sends out overpayments for people it calculates should receive one. There are several ways to estimate whether you can expect a payment adjustment. We recommend that you deal with this proactively so that you don’t accidentally leave hundreds or thousands of dollars in case there is a problem receiving your extra money.

  • Know how much incentive money you can expectCompare that to how much you actually received. If there is a big difference, you may owe some catching up.
  • Check the IRS tracking tool to see if your payment information has changed. For example, you can see that another additional payment is scheduled for you. We’ve asked the IRS for clarification.
  • If you have received an incentive payment electronically direct deposit or a Direct Express card, regularly check your balance to see if a new payment has been received.
  • If you’ve received your stimulus check in the mail and think you might owe a payment, you can use it free USPS tool to see when email is coming your way – including another stimulus check.
  • Hold you stimulus confirmation letter from the IRS. If you need to claim an additional payment in the future, have this information ready.

When do the plus payments arrive? And for how long?

The IRS has said it sends overpayments on a weekly basis. The payment schedule will largely be tied to the rate at which the IRS can process tax returns for 2020. The IRS is currently accepting tax returns for 2020 via May 17, the new tax day deadline(If you’re expecting a tax refund, including lack of incentive money of the first two stimulus controls, we especially recommend set up a direct deposit with the IRS if you don’t have it yet, so you will get your tax refund back much sooner

This has several implications. For example, if you earned more in 2020 than in 2019, but the IRS uses your return for 2019 and gives you more incentive money than you may qualify for. that money does not have to be returned (more below). This assumes you have not filed your 2020 taxes. The IRS has between now and December 31 deadline for sending stimulus checks

If you owe an additional payment, you shouldn’t file an amended tax return or do anything else to claim it, other than file your 2020 tax return as soon as possible.

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With tax returns and third-party stimulus checks happening simultaneously, the IRS has its hands full.

Angela Lang / CNET

What should you do if your plus payment never arrives?

The IRS has until December 31, 2021 to finalize the payment of stimulus checks, including the catch-up payments for people who still owe stimulus money. But if the automatic adjustment never comes, what should you do?

If you know how much incentive money to expect, using our stimulus calculator as a baseline, and the amount the IRS tells you to expect is very different from the totally, the IRS said it gave you in a letter of confirmation, you should watch out for payment adjustments.

If the extra money never arrives, you may have to file a claim, either later in 2021 (if the IRS opens an adjustment window) or possibly a year from now on your 2021 tax return. Credit for chargeback discount in front of missing stimulus check money from the first two rounds of incentive payments.

We asked the IRS for more information about how long it can take to send all of these additional payments and what to do if your additional payment never arrives. We will update this story as we get more information.

What if the IRS uses your 2019 tax return, but you made more money in 2020?

If you qualify for the full amount third incentive payment based on your 2019 taxes, but does not qualify based on your 2020 taxes – assuming the IRS used your 2019 returns – you will not must refund the IRS for that discrepancy. Here are situations where you would must return money to the IRS

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If your circumstances changed in 2020, you may owe more incentive money from the IRS.

Sarah Tew / CNET

What if the IRS still hasn’t processed your taxes for 2019?

Due to pandemic-related delays, the IRS continues to work through a backlog of paper tax returns from 2019. At the end of January 2021, there were 6.7 million individual income tax returns for 2019 pending processing. at the desk. These processing delays can be the result of a number of things, including an error, missing information, or suspected identity theft or fraud. If the IRS contacts you for more information, you should get a letter. Solving the problem then depends on how quickly and accurately you get back to the desk.

However, the new bill states that a third stimulus check is based on your tax return for 2019 or 2020 – not your return for 2018. The bill states: “Based on the information available to the secretary, the advance amount will be determined with regard to that person based on that information.”

If your 2019 tax return is still being processed, it is best to do it now submit your declaration electronically for 2020 as soon as possible, according to Janet Holtzblatt, a senior fellow at the Urban-Brookings Tax Policy Center. But if the delay in processing your 2019 return is due to an issue that also occurs with your 2020 return, your 2020 return could be delayed, which can delay your payment, Holtzblatt said.


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What if you never get your third incentive payment, or if money is missing?

If you qualify for a third stimulus check, but yours never comes along direct deposit paper check EIP card or Direct Express card (for example, if you receive SSI, SSDI or veterans benefits), you probably need to take one more step to claim that money. This happened to millions of people during the first and second round of payment in front of different reasons, including IRS errors, outdated bank information, or addresses and nonfilers who don’t go the extra mile to get the IRS their information.

As with the first and second check, you can probably claim some missing money from the third check that is due to you or your family members during tax season. The next year, 2022. However, the IRS has yet to say whether there will be an opportunity instead claim to miss money in 2021The best thing to do now to make sure your third check arrives is to go to file your tax return as soon as possibleeven if you don’t usually need to submit one.

Learn more about dos and don’ts if you are still waiting for your third stimulus check, and what we know about one so far possible fourth incentive payment


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