My stimulus check is wrong. What now?

[VolvoGirl]

How old are your children?  You only get the $500 for dependents UNDER 17.

[HUNTEMUP]

Yes, @VolvoGirl ,  I know the rules of the stimulus payment with regards to what constitutes a qualifying child. My children are 2 and 1. It’s clear that these payments were not based off of 2019 tax returns because there are far  too many of us who completed returns indicating a new child born in 2019, But were not “compensated” accordingly. 

[UandMeGod]

I received my $1200 but not the $500 for each of my 3 kid's. Who do I contact and will the IRS fix this? I was really counting on this money as I am sure everyone else is too. I feel punched in the stomach to be shorted like this and have no way to resolve it. Any suggestions???

[UandMeGod]

I am a single mom with three qualifying dependent children at home. I received my $1200 today and nothing else. I am truly depending on this money to pay my bills and was not expecting for my check to be shorted ALL of the money for my children. I read so many other's stories who have had the same thing happen to their stimulus check. I read a Turbo Tax consultant say IF we are owed the money and were shorted that we WILL receive the money but gave no further explanation of how they know this to be true? Or who we need to call or how to even report this mistake? We all need more information on what to do and we need it as soon as humanly possible because we all have bills to pay and stress coming in from every direction. This is getting to be too much for this single mom right here. Thank you in advance for any info to help navigate me through what to do next or helping me to not emotionally just fall apart over all this mess. 

[NCperson]

@UandMeGod - totally sorry you are dragged through this.   

@HUNTEMUP 

@Alibolandian 

to prove to you that this is really going to work out in 2020 tax return here is one article I found from a reputable source that discusses this tax stimulus is really a credit against 2020 taxes 

https://www.businessinsider.com/personal-finance/will-we-have-to-pay-back-stimulus-check-2020-4

There have been other articles lately that the IRS didn't pick up some dependents, but given they are still trying to get even the first dollar out to another 80 millions Americans, there has been no guidance on how they are going to correct this in the SHORT RUN.

but here is how they are going to fix it on your 2020 tax return - this is how the CARES ACT was written: 

• The stimulus payments are really based on your 2020 tax return (income, dependents, etc). So even children born in 2020 will be eligible for the $500 for their parents.
• The IRS is using either 2018 or 2019 – whatever is available  - to ESTIMATE that payment
• When you file next year there will be a “settle up” section on the tax return. 
• If you are due more stimulus (and this would include where a qualifying child was left off the original stimulus payment or you had a child born in 2019 or 2020), you will receive it through a credit on your  2020 tax filing which will increase your refund.
• If you received too much stimulus, by law, you are not required to return it

that doesn't put more money in your pocket now, but hopefully reduces the stress of trying to figure out who to complain to with the IRS call centers closed  .  

[ASWASING29]

Same didn't get my 500 credit per child. I have 2 kids under the age of 14 and only received 1200.

[NCperson]

@ASWASING29 - read my prior post; it will work itself out 

[ASWASING29]

That doesnt help me now at all. I need that money now

[NCperson]

@ASWASING29 - everyone on this board trying to help you understand that.  But the letter in two weeks and the 2020 tax return are the methods the IRS has set up to resolve these issues,  the IRS call centers are closed due to the pandemic and there are another 80 million Americans who have yet to receive ANY stimulus,

So while we all feel your pain, patience is the best medicine at the moment, 

[Sexy1977]

Yesterday I received a payment of 1200 but it was supposed to be 2700,how am I supposed to get what they owe me?

[DoninGA]

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@Sexy1977 wrote:

Yesterday I received a payment of 1200 but it was supposed to be 2700,how am I supposed to get what they owe me?

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https://www.irs.gov/coronavirus/economic-impact-payment-information-center

For security reasons, a letter about the Payment will be mailed to each recipient’s last known address within 15 days after the Payment is made. The letter will provide information on how the Payment was made and how to report any failure to receive the Payment.

[rosecors]

We are Grandparents who are now raising our Grandchildren and our stimulous check only included my husband and myself...the children were not on it we got custody of the children in June of 2019 and they are currently 11 and 3   my husband just recently retired and so we are doing this on our own...yes we just filed our 2019 taxes with the children on there. However our stimulous payment did not include them

[DoninGA]

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@rosecors wrote:

We are Grandparents who are now raising our Grandchildren and our stimulous check only included my husband and myself...the children were not on it we got custody of the children in June of 2019 and they are currently 11 and 3   my husband just recently retired and so we are doing this on our own...yes we just filed our 2019 taxes with the children on there. However our stimulous payment did not include them

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https://www.irs.gov/coronavirus/economic-impact-payment-information-center

For security reasons, a letter about the Payment will be mailed to each recipient’s last known address within 15 days after the Payment is made. The letter will provide information on how the Payment was made and how to report any failure to receive the Payment.

[NCperson]

@rosecors -it will work itself out.....

this is the 'worst case scenario'......

• The stimulus payments are really based on your 2020 tax return (income, dependents, etc).
• The IRS is using either 2018 or 2019 – whatever is available  - to ESTIMATE that payment
• When you file next year there will be a “settle up” section on the tax return. 
• If you are due more stimulus (and this would include where you simply never received it), you will receive it through the 2020 tax filing.
• If you received too much, by law, you are not required to return it

[Woodstockdiana]

Yes 2019 not yet filed. 2018 fed adj gross less than $75000 single. I received $1039.85.

We cannot call IRS.

Parameter say $5/$100 over the limit.

I did not make $100,000 2018 as Turbo Tax knows.

Anyone know why lesser amount?