My husband and I already received the 3rd stimulus payment for ourselves and our 2 recent college grads based upon our 2019 federal tax return (the most recent the IRS has on file for us). We gave both of them their $1,400. However, our children are no longer dependents for 2020. Although, we have not yet filed out 2020 federal taxes, our children have filed theirs. they received the $1,800 recovery, but they both just contacted me early this morning to say they also received the $1,400 stimulus overnight. So they now have two $1,400 stimulus payments. One that came to us based on our 2019 taxes (w/2 dependents), and one based on their 2020 taxes (not dependents). One would think there would be some sort of cross reference with SSN’s, but apparently not.
I called the IRS first thing this morning trying to find out how to return the payment for my children who are no longer dependents, but they are not sure what to do. The woman I spoke with said there should be a reconciliation in 2022 for 2021 (since this is a 2021 stimulus payment), but doesn’t think this will have to be returned.
This can’t be right???? Any insight? I don’t want to get stuck with have to pay a penalty.
