I wouldn't return the payment. It is most probably yours to keep.
The way the first two stimulus payments worked, and I have no reason to believe the 3rd one is any different, it was certainly possible for a dependent to get a taxpayer two payments for the same person.
Here is how that occurred:
Say there are divorced parents and their child, Johnny, is claimed in alternate years by each parent.
For the 1st two stimulus, Mom received the $1100 because she claimed Johnny on her 2019 tax return.
But on the 2020 tax return, Dad claimed Johnny as it was Dad's turn to do so, and Dad received $1100 as a recovery credit.
ALL TOTALLY LEGAL - that is the way the rules were designed.
So now that adult dependents are eligible for the stimulus, I would not be surprised if it works the same way - I have seen nothing to the contrary.
In this case Dad claimed his 18 year old student son on his 2019 tax return and had not yet filed 2020. The IRS send Dad $2800 as the third stimulus payment because it used 2019 as the basis of the stimulus.
Then Son filed his 2020 tax return and Son received $1400 as he filed independent of his father. Alternatively, there was no stimulus payment but he will be able to claim a recovery credit on his 2021 tax return .
Further, when calculating the recovering credit, the result that goes on Line 30 can not be negative, meaning you are not required to return any stimulus if the calculations indicate you were over paid.
do not return the payment!
