stimulus payment -“LET’S DOUBLE-CHECK THE AMOUNT YOU RECIVED”

[TVofTN]

In the section that says, “LET’S DOUBLE-CHECK THE AMOUNT YOU RECIVED” Turbo Tax shows a dollar amount that the third stimulus payment should have been. Then it asks if this amount match the amount on Letter(s) 6475. I did get Letter(s) 6475 and the two-dollar amounts are different.  So, the answer is “NO”, the number that Turbo Tax gives does not match the number in the letter(s) 6475.

My bank account shows that I did not get a third stimulus payment. I received a small stimulus payment on 1/4/2021 and another larger one on 3-17-2021 but did not receive a 3rd stimulus payment between 3-21-2021 through 5-21-2021.

If the answer above is “NO”, Turbo Tax says to “Enter you total third-round payment (issued March 21 – May 21) as it appears on your letter 6475 from the IRS”. Again, checking my bank statements between March 21 – May 21, I did not get a third stimulus payment.  So, the question is what do I enter in the box? 

ZERO, because I did not get a third stimulus payment, or the total dollar number in Letter(s) 6475?

I also received a letter from the IRS (Notice CP80) dated 1/24/2022, saying I have a Credit to my taxes.  The letter it provides me with three options of what I need to do immediately. 

1. If you are required to file this tax return:
2. If you have already filed this return:
3. If you would like to credit transferred to another tax form, tax year of tax identification number:

Again, do I enter ZERO, or the total dollar number in Letter(s) 6475

[VolvoGirl]

How much was the larger one on March 17?   That was probably the 3rd Stimulus payment.   Did you get the amount on letter 6475?  How much does it say?

The 3rd Stimulus payment is 1,400 for each person unless you have a high income.

[TVofTN]

1-4-2021 was for $1,800.

3-17-2021 was for $5,600. 

6475 Letter was for $5,600

1-24-2022 credit letter was for $7,708

[VolvoGirl]

Ok.   I don't know about the credit letter for 7708.  You have to ask the IRS about that.   Did you send in a tax due for a prior year but the IRS didn't get or lost the return?  That's been happening a lot lately.   The letter should say more on it.

Obviously  the 5600 you got is the 3rd Stimulus payment and matches letter 6475.  That is 1,400 for 4 people.  Enter that amount.  You have to enter it to see if you qualify for anymore.  How much does Turbo Tax say you should have got?  How many dependents are you claiming this year?  

[VolvoGirl]

Oh you probably can ignore that IRS letter.  They have been having problems with wrong letters going out.  See IRS suspending notices

IRS continues work to help taxpayers; suspends mailing of additional letters | Internal Revenue Serv...

[TVofTN]

My wife, daughter, grandson and me. (4)

TT said I should have gotten $5,600    My mistake I added wrong with big fat fingers.  

Three 6475 Letters.

One to my wife FOR my daughter $1,400

One to my wife $2,800 and one to me $2,800 

$2,800 & $2,800 = $5,600. Same amount.  Thanks for pointing it out to me. 

As far as the $7,708 credit, that is how much I paid in 2020 Federal Taxes.  I just looked it up.  The Government did cash the check.   Again, thanks for point it out to me.  So, now I have to find out what is the credit for.  

Thanks again.  

[VolvoGirl]

The 7708 credit is the tax due check they cashed.  They are saying they didn't get your 2020 tax return.  Did you efile or mail the return?  You might need to send the tax return again.   But I would ignore it for now.   The letter might be a mistake according to that IRS link I posted.

Then I don't understand about the 1,400 letter your wife got for your daughter?   Whose ssn is on it?  How much did you & your wife get?  5,600 or 7,000?   

[TVofTN]

IF my bank account shows the 1st IRS direct deposit on 1-4-2021 for $1,800 and the 2nd IRS direct deposit on 3-17-2021 for $5,600 and you say this direct deposit on 3-172021 was the 3rd stimulus payment, then the 1st stimulus payment was small, and the 2nd is missing. 

last year we mailed in the 2020 tax forms with our check. The check was cashed, and the forms went missing? Well, this tax year 2021 bill is larger than 2020.  

Thanks for all your answers and information, you helped a lot.  

How do I check on the 1st and 2nd stimulus payments?  Something is mess up.  

[TVofTN]

My daughter has Learning Problems, she is 45 has a son, 17, which we have custody of, and she does not work or have income, just SSI. We got a letter from SSA saying dated Aug 2021 to do a 2020 tax return for her so she could get a EIP and other refunds and Tax Credits for SSI recipients.  That is where the $1,400 came from.  Everything is in my wife's and her name.  

[VolvoGirl]

The 1,800 payment you got in January was the second Stimulus payment for 2020.   It was 600 for each person.  But only for Dependents under 17.   How old was your daughter?  So you only got it for 3 people.   You, your wife & grandson?  That should have been reconciled on your 2020 return.   

The new 3rd Stimulus payment is 1,400 for each person on your 2021 return and has no age limit.

[VolvoGirl]

Ok that makes sense now.   I think I can follow what happened. Did you claim your daughter on your 2020 return?  But she also filed a 2020 return?  On her 2020 return was the box checked that she was claimed as a dependent?  I bet not.  That's why they sent her a 1,400 payment too.  

But you also got a 1,400 payment for her based on YOUR 2020 return.  So it got paid twice.  But that's ok you can all keep it.   

Did she get any of the first 2 EIP amounts on line 30? It might have been 1,200 (600+600). 

In conclusion I think what happened was you claimed your daughter on your 2020 return and she also claimed herself.  That's not suppose to happen.  One or both of you must have mailed the return or one would have rejected.    The IRS may catch that some day.  

So on your 2021 return now just enter the 5,600 (2800+2800) you got.   You won't qualify for any more on line 30.   

Hope that all makes sense and clears it up.