topic Stimulus check underpayment in Deductions & credits

Stimulus check underpayment

Way2go12 — Wed, 17 Mar 2021 19:58:14 GMT

I filed my 2020 taxes on March 14 & they were accepted. My AGI was $54,080. I received a stimulus check today but it was based on my 2019 AGI of $76,317 so I only received $1031 not $1400. How do I recover the $369?

Re: Stimulus check underpayment

MinhT1 — Wed, 17 Mar 2021 20:13:53 GMT

This is because the IRS based the third stimulus amount on your 2019 tax return as they have not yet processed your 2020 tax return.

You will be able to claim the shortfall when you file your 2021 tax return if your 2021 AGI is less than or equal to $75,000.