IRS Letter 6475

[rdcoseril]

Earlier this year (2022), my wife and I each received IRS Letters 6475 showing amounts that we each received for “Total 2021 Economic Impact Payment(s)”.  We each did in fact receive the amounts specified in the 6475 letters as part of the American Rescue Plan in May of 2021 - the third stimulus payment.  However, we also received a smaller check in January of 2021 that was described as "Your Second Economic Impact Payment".  It appears that Letter 6475 either doesn’t take into account the check we received in January of 2021 or the IRS has no record of the check we received in January of 2021. 

1.  Does Letter 6475 only reference the third stimulus payment - even through some of us also received the second stimulus payment in early 2021?

2.  Are either the second or the third stimulus payments received in 2021 taxable for federal income tax purposes?

[xmasbaby0]

Stimulus checks are not taxable.   You do need to enter the amount shown on your letter 6475 when you complete the recovery rebate credit section in Federal Review.  Those questions pertain ONLY to the 3rd EIP, not to the first and/or 2nd stimulus checks.   Enter only what is on your letter 6475 for each of you.

[rdcoseril]

Thank you.

[sandrapbauman54]

In the stimulus credit section, Turbo Tax is saying that 'based on my 2021 income' I should have received $5600.  My letters 6475 total $4200.  Your instructions are very confusing, specifically, "if you received multiple payments for either round....."  what does that mean?    HELP!!!

[AmyC]

Enter the total your household actually received.

If you are married filing joint, you each received a letter. It could be your letter says $4200 and your spouse's letter say $1400. It could be that you and your spouse received a total of $4200 and you added another child to your return so that you qualify for an additional $1400.

The program adds together the amounts entered for each of you to get your combined total. Then the combined total is compared to the number of people on your return. You have 4 people on the return for $5,600. If all 4 were on it last year, you should have gotten the $5,600. 

If you are head of household and had 3 on your return last year - you and two others, then $4200 would have been the amount received. If you added a parent, child, someone to your return, you would now have 4 for $5600 credit.

@sandrapbauman54

[Phyllis15]

Turbo Tax should be clear regarding the questions on Stimulus (Economic Impact Payment) & Letter 6475.  My husband and I EACH receive a letter.  We file jointly.  The question on Turbo Tax make it sound like the letter is addressed to both parties; not individually which caused me to pause and dig for the proper information to report correctly,

[xmasbaby0]

The IRS sent separate letters 6475  to each spouse even if you filed jointly last year.   For some people receiving $1400 per person is memorable enough that they do not have to dig, but apparently lots of people forgot.    You can check your own bank records for the $1400 deposits and/or check your online account with the IRS if you are not sure how much you received sometime from mid-March onward for the 3rd stimulus checks.   Entering the amount correctly is important or your refund will be delayed.  The IRS checks line 30 and if there is an amount there for a payment you already received, they reduce your refund.

https://www.irs.gov/payments/your-online-account

[sandrapbauman54]

I agree, Turbo Tax was not clear.  My understanding from the instructions was that letter 6475 showed the grand total amounts received.   Every year I run into something that makes no sense in this program, and the whole point is to use something you can understand!   I've been paying for TT since 2008.