My stimulus check is wrong. What now?

[Thenasdois28]

My stimulus check was a incorrect amount $1200 for my self as single and $500 for my child I had claimed . 

I only received $1200

[NCperson]

@mikemelaniehall - on the amendments, you can only go back 3 years.   so ate this point that means that for 2016, the deadline is TODAY

unless postmarked today, the IRS will not accept an amendment for 2016!!!!!

have you been using Turbo Tax to do your taxes?  if you answered all the questions about your children correctly, it would have correctly chosen the right check box.

How old are your children?over 16 as of Dec 31 and the 'other dependent' box would be correct

[Slynnallen217]

I saw that after I posted. Finally lol

I had amended the 2018 already where the mistake was made and haven't yet filed the 2019. Getting it in 2021 doesn't help me NOW when it's needed. They really need a way for people to report errors and have the remainder issued now. It is however to help during this crisis, not just free money.

[NCperson]

@Thenasdois28 - it'll work itself out.  There are press reports that in many cases the IRS didn't pick up all the eligible dependents. 

worst case, when you complete your 2020 tax returns next year, there will be a 'settle up' section of the return where you'll get the credit for the $500.  I know many need the money now, but there is a process to fix this kinda stuff, it just isn't immediate. 

[lscott74]

Well, I was divorced in 9/2019 and did file my 2019 taxes with new banking information in March.  I received my regular refund in my correct account, but my stimulus which was 924.00 less than what I was due went to my ex-spouse's account.  There is no way to even get any answers.

[NCperson]

what answer are you seeking?

By law, the IRS is to send you a letter within 15 days of you receiving the stimulus payment to explain what they did, where the money was deposited etc. 

it'll work itself out on your 2020 tax return. 

[Cortical]

My stimulus check was off by an unusual amount as well, but after looking at it again, it was listed on my bank account as "US HHS Stimulus HHSPAYMENT ACH".  I think that is a separate stimulus I received as a medicare/medicaid provider and that my actual stimulus check hasn't been deposited yet, but am not sure.  Any chance you are a healthcare provider as well or can share how the stimulus amount was described on your account?

[NCperson]

turbo tax has nothing to do with the deposit of the stimulus payments, 

Check this website and update your bank information if necessary.  AGI is line 7 on your 2018 return and line 8B on your 2019 return.  Refund is line 21a of the 2019 tax return. and line 20a for 2018

https://www.irs.gov/coronavirus/economic-impact-payments

[Keelyhuckstep]

I lost my job in 2019, as the main income provider for our family, so 2018 taxes showed we made almost double of what our 2019 taxes were.  Both were filed but the IRS used our 2018 taxes to calculate our stimulus check instead of our 2019 taxes!?  We have 2 dependents under 17, make under 150k and filed married filing jointly.  We should have received $3,400 but instead received only $2146.17.  What do we do?  Can this be corrected?

Thank you!

[NCperson]

yes - it will be corrected but give it time. .here is how and why: 

what isn't well reported, is these stimulus payments are really based on your 2020 tax return (dependents, income, etc) to be filled out next year

the IRS is using 2018 and 2019 tax returns to ESTIMATE your rebate.

2020 will be used to "settle up".  If you are due more stimulus you will get it through the 2020 tax return.  if you were paid too much stimulus, per the CARES ACT, you are not required to return it! 

[Keelyhuckstep]

For those of us who calculated correctly and the IRS sent the wrong amount (verified), there is no one to ask for help from.  The IRS has nothing set in place yet, and no one has answers, so this is the only place we can go to seek assistance.  Lord knows we pay enough to file through TurboTax, and if we pay for assistance with tax questions, then this is definitely something that we should be asking.

[DoninGA]

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@Keelyhuckstep wrote:

For those of us who calculated correctly and the IRS sent the wrong amount (verified), there is no one to ask for help from.  The IRS has nothing set in place yet, and no one has answers, so this is the only place we can go to seek assistance.  Lord knows we pay enough to file through TurboTax, and if we pay for assistance with tax questions, then this is definitely something that we should be asking.

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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]

@Keelyhuckstep - there is a process for corrections:

what isn't well reported, is these stimulus payments are really based on your 2020 tax return (dependents, income, etc) to be filled out next year

the IRS is using 2018 and 2019 tax returns to ESTIMATE your rebate.

2020 will be used to "settle up".  If you are due more stimulus you will get it through the 2020 tax return.  if you were paid too much stimulus, per the CARES ACT, you are not required to return it! 

[Keelyhuckstep]

@DoninGA Yes, I’ve already read all of the websites and public notices and generic blurbs, but thanks anyway.

[wilderint]

Mine is wrong too. I have gone through all the requirements. We have 8 children, married filing joint, under $75K a year. Our check was $3,900. Is there a limit on children that will be accepted? Although we are grateful for any help we have received, we expected $6,400.