Hello!
Here's the issue....last year, my husband and I received the Stimulus payments no problem. The IRS went off of our joint 2019 tax return and our payments were direct deposited into a joint account we keep open between us.
We separated in Feb of 2020 but our divorce is not yet final (should be next month).
For the 2020 tax year - I filed my tax return as Head of Household - it is done. I already received my 2020 tax refund. He has not filed his 2020 tax return (and likely won't until October - he always files and extension) and he'll be filing as Married filing separately. I claim both children as I have 100% custody.
Third Stimulus came in today. $5600 (Him, Me + 2 kids) to our Joint Account and $4200 (Me + 2 kids) to my account. He should get his $1400 and my deposit was correct.......so know we have an additional $4200.
What do I do? Can we keep it and then what would we do for the 2021 tax return? Will it be deducted from any refund we may get or we might owe? Or do we send it back somehow?
Also - further - the child tax credit that is supposed to start coming monthly - I'm concerned that we will get double deposits there too.......
I know it's an odd situation.....any help is appreciated!
Thank you!
Angel