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

E

Erinms614

Level 2

Yes both kids are under 17

F

fatpanda

Level 2

I filed both 2018 and 2019 tax return, but the stimulus check amount seems to be based on my 2018 return, when I had more income than 2019. Does that mean that I have to wait a whole year before I can claim the amount difference on my 2020 tax return, or is there a mechanism to trigger a reevaluation? It is ridiculous since I actually received my federal tax return a week before the stimulus check deposit, which means the IRS knew about my 2019 tax return. The money is meant to help the situation bow not a year later.

N

NCperson

Level 15

@fatpanda - given the speed this law was passed and the number of people who are still waiting on dollar 1, yes, waiting until 2020 tax return next spring is the method that the CARES act set up - it's the law.

A

Alibolandian

Level 2

I have 3 children and our income is under 75,000 and we received $2900.... not sure why but i m confident its wrong and had to be $3900.

anyone has any suggestions?

VolvoGirl

Level 15

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

H

HUNTEMUP

Level 2

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.

S

Sexy1977

Level 2

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

Level 15

@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?

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.

R

rosecors

Level 2

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

Level 15

@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

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.

W

Woodstockdiana

Level 2

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?

N

NCperson

Level 15

@Woodstockdiana -

you should receive a letter in the next 2 weeks from the IRS explaining how they calculated it.

look at line 7 of your 2018 tax return; that is the AGI the IRS should have used to calculate the payment. the payment implies your AGI was $78,203. The stimulus is payment is $1200 and reduced by 5% for the part of your income over $75,000.

so $78,203 - $75000 = $3203 *5% = $160.15 reduction from the $1200 or $1039.85

if your income is LOWER than $78,203 in 2020, you'll get some of the rest back on your 2020 income taxes next year

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 (because your income was lower in 2020 than 2018), you will receive it through the 2020 tax filing.
If you received too much (your income was higher in 2020 than 2018), by law, you are not required to return it

D

DianaGroves86

Level 2

How come I only go 1,700 and every one got more that doesn't same right ?

VolvoGirl

Level 15

You get 1,200 for Single and 500 for each dependent under 17. So 1,700 could be right. Are you married or have more than 1 dependent?

L

llaflair

Level 2

I received - via direct deposit - much less (<$200) than the expected amount ($1200) based on payment calculator for my income and filing status. What are my options for correction? Thanks!

N

NCperson

Level 15

@llaflair - a few steps to take

look at line 8b of your 2019 tax return (line 7 of 2018 return) - that is your AGI and what the payment would have been based on.

1) you will get a letter from the IRS within the next 2 weeks explaining how they calculated and how to correct.

2) 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

so if your income is less in 2020, you'll get the difference required from the stimulus as a credit increasing your refund (or reducing what you owe)

J

jsenakievich1

Level 3

But of course MOST people's income IS going to be less so maybe they should just release now what they said they would give us all now when we NEED it (not after we are all evicted or forclosed on) because all incomes ARE less already for 2020 taxes, duh (not to you, but to the irs for not seeing that right out the gate)

V

valerinascott523

Level 2

I got my stimulus check but how do I go about getting my dependent check

DoninGA

Level 15

@valerinascott523 wrote:

I got my stimulus check but how do I go about getting my dependent check

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.

O

omaraiden1

Level 4

You guys have already received a check in the mail?? My info on the irs website says will be mailed out the 24th would I get it before then or expect next week??

F

FuzzFurtz

Level 2

We had a fourth baby in November of 2019. While going through TurboTax when filing my 2019 taxes, this new baby was mistakenly classified as "credit for other dependents" instead of a child tax credit. We amended our return but haven't heard back yet on if that amendment was accepted. When we got our stimulus check, we didn't get $500 for this fourth baby, only for the other three children. I have a feeling that "credit for other dependents" mistake is what cost us that additional $500 for the new baby. Hopefully this can be fixed with the IRS and we can get the $500 for the newest addition to the family. I heard one rumor that the child has to have lived with you for at least 6 months of the 2019 year but I don't know if that is true.

VolvoGirl

Level 15

When you entered your new baby you needed to select she lived with your the WHOLE YEAR, even if they are born on Dec 31. You should amend your return and get the Child Tax Credit. I believe you can get the extra Stimulus payment when you do your 2020 return next year.

How to amend a current year tax return
https://ttlc.intuit.com/community/amending/help/how-do-i-amend-my-turbotax-online-return/00/27577