What is a letter 6475.

[mmhs44]

i got the third stimulus but dont have the letter 6475

[LenaH]

The IRS began issuing Letter 6475, Economic Impact Payment (EIP) 3 End of Year, in January 2022.

This letter helps EIP recipients determine if they’re eligible to claim the Recovery Rebate Credit on their 2021 tax year returns. This letter provides the total amount of the third Economic Impact Payment and any plus-up payments received for tax year 2021.  For married individuals filing a joint return, each spouse will receive their own letter showing half of the total amount.

Letter 6475 only applies to the third round of EIP issued between March 2021 and December 2021. This includes “plus-up” payments.

Plus-up payments were additional EIP 3 payments the IRS sent to people who:

• Received a third Economic Impact Payment based on a 2019 tax return or information receive from Social Security Administration, Railroad Retirement Board or Veterans Administration, and
• Were eligible for an additional amount based on their 2020 tax return

Most eligible people already received the full amount they are entitled to receive. Anyone who did not receive the full amount they are entitled to should review the payment information to determine whether they should claim the Recovery Rebate Credit for tax year 2021.

[RFB3]

Good morning,

I prepared and filed my mother's 2021 return. She indicated to me that she had not received the third stimulus payment when in fact she did. The return indicated a refund of $1400. When I prepared an amended return, a payment of $1400 is showing due. When I look at the actual 1040 however, it shows $0 due. 

Not sure how to handle this.

[DanaB27]

Yes, your mom will have to repay the $1,400 if she receives it with her refund. But please wait until the original return has been processed and see if her refund includes the additional credit. The IRS will adjust the amount automatically. Please see IRS Recovery Rebate Credit Q D2 What happens if I claim the incorrect amount? for additional information.

@RFB3

[xmasbaby0]

@RFB3 The IRS is looking at any return with an amount on line 30.  They know that your mom received the 3rd EIP.   The IRS will correct this for her and remove the $1400 from her expected refund.  Do not amend for this.  It will delay processing for a few weeks.