We will go through scenarios in which you should returnyou received for one of the three checks. For example with the , the IRS accidentally sent payments to people who did not qualify. If you received an incorrect check, there are specific ways to return the money depending on the payment method used – , or .
Read on for more information. For more information, here, and what we know . Brush up on the situation with a , and educate yourself about all that confusing , including . This story has been updated.
What if you get incentive money you don’t qualify for with the $ 1,400 check?
Theis $ 80,000 for an individual taxpayer, $ 120,000 for a householder, and $ 160,000 for a married couple filing jointly. If you make more than that amount and still receive a payment, the IRS will likely expect you to return all or part of it.
However, if you earned more in 2020 than in 2019, but you get an incentive check before filing your tax return,. You can use our to estimate how much you will get.
Why you may need to return some or all of the incentive money you received
The government determines who is and who is notbased on various factors. If you fall into one of these categories and received a stimulus check, it was probably by mistake:
- You received a check for someone who passed away, but there is some nuance here (more below).
- You do not have a social security number.
- You are considered a “non-resident alien” without a spouse of a US citizen.
- You are a non-citizen filing federal taxes.
- Your exceeds the limit; for example, $ 87,000 for a single taxpayer on the second check.
- You are about someone else’s taxes (this applies to the first and second checks).
- You have received the same payment round twice.
There is more information on this.
What to know if a family member in your household has died
If you received a payment for someone who died in 2019 or earlier, the IRS says you must repay the full payment “unless it was made to joint filers and one spouse is still alive.” If you’re the living spouse, you’ll have to repay half of the payment – just no more than $ 1,200 in total.
However, if the check was issued in both your name and the name of your deceased spouse (and therefore you cannot deposit the money), you must return the entire amount to the IRS. After the agency processes the returned payment, it will issue a new check with the correct amount for you.
For the third check it depends on. If it uses your 2019 tax return, you will likely keep the amount you received for the person who passed away.
If you’ve already redeemed or deposited the stimulus payment you received, the IRS wants you to pay it back as follows
If you’ve already cashed or deposited your check, here’s what you can do.
1. Use a personal check or money order and make the check payable to the U.S. Treasury. You must also write “EIP 2020” and include the taxpayer identification number or Social Security number of the person whose name is on the check.
2. On a separate sheet of paper, let the IRS know why you are returning the check.
3. Mail the check to the correct IRS location – that depends on the state you live in.
If you never cashed or deposited the paper check you got, here’s what the IRS wants you to do
If any of the above applies to you, you may need to return your stimulus check. Here’s how to do this for each scenario, according to the IRS.
1. Write “VOID” in the approval section on the back of the check.
2. Do not bend, clip, or staple the check.
3. On a separate sheet of paper, let the IRS know why you are returning the check.
4. Mail the check to the correct IRS location – it varies depending on the state you live in.
What to know if your stimulus check money never arrived
If you were eligible to receive itand it never arrived, you have to on your taxes for 2020 this year, even . You may also have to .
If you haven’t received the third check, or, the IRS can give you one after it receives your 2020 tax return.
You may need to refer to additional information if you:
Here’s everything you need to know to stay up to date with the latest news. If you have problems with stimulus control, . And here’s what you need to know about other ways you could .