We got our 3 Stimulus Payments already. Then today we received another unexpected direct deposit from the IRS. Does anyone know what this could be?

Neither one of us received unemployment last year. We have 1 child who is 11.
rjs
Level 15
Level 15

After you file

The IRS will send you a letter explaining the deposit. You might not get the letter for a few weeks.


Here are a couple of possibilities, but these are just guesses.


If the deposit is a small amount, and your income tax refund was delayed, it could be interest on the refund.


If you repaid excess Premium Tax Credit on your tax return, it could be a refund of that payment, because repayment of excess Premium Tax Credit is suspended for 2020.

 

View solution in original post

After you file

If you got the third stimulus based off the 2019 information then you could have gotten a PLUS UP payment if you were eligible for more using the newly filed 2020 return.  

After you file

Thank you for that info. It was quite a bit, so maybe it was the latter.  I guess we will know for sure once we get the letter from the IRS.