@llaflair - a few steps to take
look at line 8b of your 2019 tax return (line 7 of 2018 return) - that is your AGI and what the payment would have been based on.
1) you will get a letter from the IRS within the next 2 weeks explaining how they calculated and how to correct.
2) The stimulus payments are really based on your 2020 tax return (income, dependents, etc).
- The IRS is using either 2018 or 2019 – whatever is available - to ESTIMATE that payment
- When you file next year there will be a “settle up” section on the tax return.
- If you are due more stimulus (and this would include where you simply never received it), you will receive it through the 2020 tax filing.
- If you received too much, by law, you are not required to return it
so if your income is less in 2020, you'll get the difference required from the stimulus as a credit increasing your refund (or reducing what you owe)
