In which cases should the stimulus check money be returned to the IRS?

The Internal Revenue Service (IRS) has disbursed approximately 161 million payments , with a total value of more than $ 379, 000 million , corresponding to the third installment of checks of the stimulus package for $ 1.9 billion authorized in the Biden administration.

It is possible that the IRS, among so many deliveries , you have paid money that the taxpayer should not receive , so it is important to know in which cases it can happen and how to return the money to bill.

The government determines who is eligible and who is not eligible to receive a stimulus check based on several factors. If you belong to any of these categories and received a stimulus check that did not correspond to you , it was probably by mistake :

– You received the same payment round twice or more .

– You are a non-citizen filing taxes.

– Received a check from someone who died .

– You do not have a Social Security number .

– You are considered a “nonresident alien” without a US citizen spouse .

– Your adjusted gross income exceeds the limit to be eligible .

– You are claimed as a dependent on someone else’s taxes (applies to the first and second checks).

How to return the extra money

In case you received a payment for someone who died in 2019 or earlier, the IRS states that you must return the full payment “unless you have made a joint filers and one of the spouses still alive ”. If you are the living spouse, you must return half the payment, but not more than $ 1, in total .

Yes the check is written to both your name and the deceased spouse (and therefore you cannot deposit the money), you will need to return the full amount to the IRS. Later the agency will correct the process and issue a new check with the correct amount.

In case the misallocation is on the third check, it depends on the tax return used by the IRS. If you use the one corresponding to 2019, you will probably keep the amount you received for the person who passed away .

In case you have cashed and deposited the received stimulus check, this is what you should do:

– Use a personal check or money order and make a check payable to the United States Treasury .

– You will also need to write “2020 EIP ”And include the taxpayer identification number or Social Security number of the person whose name appears on the check.

– On a separate sheet of paper, explain to the IRS why you are returning the check .

– Mail the check to the appropriate IRS location (varies depending on the state you reside in).

If you received the paper check and never cashed it or did not deposit it, this is what you should do:

– Write the word “CANCELED” in the part back of the check.

– Do not abuse the check, do not fold it, or staple it.

– On a sheet separate paper, report to IRS the reason you are returning the check .

– Mail the check to the appropriate IRS location (varies depending on the state in which you reside)

With information from CNET

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