6475 letter does not match

[kemo1a]

Turbo tax amount that I should of received and deposited amount by IRS match. The letter in the mail from the IRS states 2800.  The letter has my name and my spouse's. My children are missing from the letter which is why they are showing less.  When I go through the turbo tax program do answer yes or no.  (no makes it seem like I was underpaid which I know I was not)

[RobertB4444]

If you enter an amount different than what is on your 6475 then the IRS may delay processing for an extended period of time.  If you don't care about that then you should definitely go ahead and enter the amount that you actually received for the year.  That is the correct amount and what the IRS should have in their records and if they investigate then it is what they will find that they actually issued to you.

Putting the correct amount in the return may not delay your return as well.  Because you know what you actually received there may be a second 6475 coming with the difference on it.  

Either way you can log on to your online account and double check the amount that the IRS shows that you received. Log in or create an account here.

[samcaddle]

In my case when I go to the IRS site it shows we am entitled to the 1400 each for my wife and I.   The 6475 Letter states we were issues 1400 each, but we are positive we received only a total of 600.  That part of the forms in Turbo Tax is a bit confusing, at least to me.  I think there should be some definitive spot to select that we received less than what the IRS says we are due AND what was received.   For me it should mean we are due an additional credit of 2200 to get to the 2800 due.  It might delay my refund or processing of my return but it is significant enough that I must.  Sam  

[JillS56]

There have been some discrepancies in the information in Letter 6475.  If you are sure that the 6475 Letter you received is incorrect, you should enter the correct information in TurboTax.   This may or may not delay the processing of your tax return.   

Keep in mind that Letter 6475 only applies to the third round of economic impact statements sent out during 2021.       

TurboTax will calculate the amount of your stimulus payment.  TurboTax will then ask the question how much you did receive in economic impact funds.  Enter the amount you received in the box.  If you are sure you only received $600 then enter that amount in the box.   TurboTax will then calculate the remainder as a credit on your return.  The amount of credit will be applied against any taxes owed along with any other withholding, estimated payments, or credits you might be entitled to, and any excess with be refunded.  

[mel6502]

My wife and I received 6475 Letters stating we were issued payments totaling $2,800.  TurboTax states we should have received compensation between "March and May 2021", but we received $2,400 in January 2021.

I am not following the logic of entering the amounts on the letter "matching" the eligible total of $5600 because I see only one entry for $2,400 in January 2021.  When I enter the $2400, TurboTax says the Federal Refund jumps by $3,200, which does not seem right either.

Does the "eligible" $5600 total include 2020, or does it only apply to 2021?  If it is 2021 only, then we most certainly did not receive a payment of $5600; however, I am not sure how we reflect that correctly in TurboTax.  Please advise.  Thanks.

[DaveF1006]

It depends. If you are filing jointly, the third stimulus payment is $1400 per person, for a total of $2800 for both of you combined. So when you declare your stimulus payment in the Let's double-check the amount you received;

• You will answer no to the question if the amount matched.
• Then you put that you received $2400 for the third round stimulus payment received.
• You should receive a credit of $400 as a result.

For tax year 2021, it is only the third round stimulus that the IRS is concerned about.  First and second payment information was reported in the 2020 return.

[mel6502]

@DaveF1006, thank you for your quick response!

We filed jointly, so the total of $2800 answers one question.  2020 not being in the equation answers another one, which is greatly appreciated.

One detail I left out is we have two qualifying dependents; hence, the $5600 total TurboTax states we should have received.  If I understand correctly, putting in $2400 as "the third round stimulus payment received" and, therefore, adding $3200 to the federal refund is accurate.  Does that sound correct?  It would be great, but it also sounds too good to be true. 😊

[DaveF1006]

Hi mel6502, I should have asked if you have dependents.  Two more dependents add up to another $2800 that you should have received. The 6475 letters are correct then and $3200 is the correct credit you will receive on your 2021 taxes.

[kemo1a]

I am not a tax expert but 2400 sounds like the distribution under the Trump administration which was considered 2020 paid out in January 2021 that was 600 per dependent.  The other is referring to the 3rd stimulus check that for a family of 4 was 5600.  That was received somewhere between late feb to may.  As I first stated the letter the IRS did not include my dependents in how much they paid they only included Taxpayer and spouse in the letter.  The children dependents were not included in the letter.  The only way to confirm what was paid is by looking at the bank account.   

[mel6502]

@kemo1a, that is an excellent point because we got nothing in the February to May 2021 timeframe.  With that line of thinking, perhaps, I should say "0," which would mean getting the entire $5600.  My considerable concern is, what if I am wrong?  

[DMarkM1]

@mel6502  You stated earlier you received a letter 6475 reporting $2800 for you and your spouse.  You should enter at least that amount for third round stimulus payments already received.  If you know you also already received an additional $2800 for your dependents but just haven't gotten a letter showing that, you should still enter that amount as received as well. 

If you did not receive the other $2800 then don't enter that amount.

As @kemo1a states the $2400 is likely round two stimulus payments and does not go in your 2021 return.

[mel6502]

@DMarkM1, thanks for the further clarification.  I know we only received one payment of $2400 in January, and if that was part of round two, then that means I put 0 for the amount which triggers the $5600 credit.  Based upon everyone's feedback, that sounds right but still sounds too good to be true. 🤣

[DianeW777]

You can always review the third economic impact payments for you based on the IRS information by reviewing your IRS Online Account. You can create one if you don't already have one.  This will confirm the amount, if any, to ease your concern before you file.

@mel6502

[mel6502]

@DianeW777, yes, I did that too; the site says Economic Impact Payment 3 is $2800 as stated in Letter 6475.  This data alleviates my concerns since the only deposit received in 2021 was $2400 and is related to Payment 2.  Thanks for the help, everyone!

[DianeW777]

You should file your return with accurate information. The IRS also has a page of answering several questions about the third economic impact payment.  If you did not receive it you should enter zero and file your return. If there is any issue you will be alerted.

@mel6502 

[Edited: 02/17/2022 | 7:07a PST]

• Third EIP Topic G