No, that doesn't seem correct however there are eligibility requirements that have to be me.. See the information below.
If you didn’t get the full amount of that Payment, you may be eligible to claim a Recovery Rebate Credit when you file your 2020 federal tax return.
According to the IRS, the first stimulus check: eligible individuals will automatically receive the full $1,200 payment. Parents also get $500 for each eligible child under 17.
To be eligible: Generally, if you are a U.S. citizen or U.S. resident alien, you will receive an Economic Impact Payment of $1,200 ($2,400 for a joint return) if you (and your spouse if filing a joint return) are not a dependent of another taxpayer and have a Social Security number valid for employment and your adjusted gross income (AGI) does not exceed:
- $150,000 if married and filing a joint return
- $112,500 if filing as head of household or
- $75,000 for eligible individuals using any other filing status
Your payment will be reduced by 5% of the amount by which your AGI exceeds the applicable threshold above.
You are not eligible for a payment if any of the following apply to you:
- You may be claimed as a dependent on another taxpayer’s return (for example, a child or student who may be claimed on a parent’s return or a dependent parent who may be claimed on an adult child’s return).
- You do not have a Social Security number that is valid for employment.
- You are a nonresident alien.
The following are also not eligible: a deceased individual or an estate or trust.
To see the second stimulus eligibility requirements, click here.
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