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Stimulus Check Less Than Expected? Here's What the IRS Says

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    As more and more stimulus checks have been sent out to Americans, so too have reports of people getting the incorrect amount sent to them. While some people have reported receiving more than they thought they were supposed to, the most common complaint is that a stimulus check didn't include the additional $500 per qualified dependent. Unfortunately, that additional $500 won't be getting sent out any time soon for those unlucky people.

    Let's start with the good news first. If you were one of the lucky few who received more than you thought you were supposed to then it is your lucky day. The IRS has said that it will not seek to get the money back from you and you will not be required to disclose it on any future tax returns. You can think of it as hitting the IRS lottery. Congrats!

    Now for the bad news. If you were expecting more than you received and/or didn't receive the additional $500 per qualifying dependent in your household then you're going to have to wait for awhile to get your additional funds.

    The IRS has said that you will have to wait until January, 2021 (at the earliest) to get the additional money owed to you, saying in a statement posted on their website “If you did not receive the full amount to which you believe you are entitled, you will be able to claim the additional amount when you file your 2020 tax return.”

    I want to be clear that this guidance may change in the future and I will update this post if the IRS changes course, but for now they are saying that you will have to wait until you file your 2020 taxes early next year to receive the additional stimulus money owed to you.

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    I can't imagine that the IRS will keep it this way, or at least I really hope they won't. It just doesn't make sense to me that they will make people, some of whom are the most in need of these additional funds, to wait for months on end to get the additional money they are entitled to. To add insult to injury, this is a problem of the IRS's own making.

    For that reason alone I have a strong feeling that the IRS will eventually reverse course and get the money out sooner.

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    justin412 Wrote:

    I can't imagine that the IRS will keep it this way, or at least I really hope they won't. It just doesn't make sense to me that they will make people, some of whom are the most in need of these additional funds, to wait for months on end to get the additional money they are entitled to. To add insult to injury, this is a problem of the IRS's own making.

    For that reason alone I have a strong feeling that the IRS will eventually reverse course and get the money out sooner.

    I receive disability benefits and don't have to file income tax. I don't get enough money! I am the legal guardian of my grandson. He's only 13 years old and receives both SSI and survivor benefits. I claim him on my taxes as a dependent for years, when I was working! Are we still going to have to wait until 2021 to receive the $500 payment?
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    Sheila M Gale Wrote: I receive disability benefits and don't have to file income tax. I don't get enough money! I am the legal guardian of my grandson. He's only 13 years old and receives both SSI and survivor benefits. I claim him on my taxes as a dependent for years, when I was working! Are we still going to have to wait until 2021 to receive the $500 payment?

    I want to make sure I understand you. You no longer file income tax, but when you did you claimed your 13 year old grandson on them? And have you already received your stimulus check?

    If you have received your stimulus check then, at least as things stand now, you will have to wait until next year to get the additional $500 for your grandson. However, I want to be clear that the IRS very well may change their mind and get the additional money out earlier.

    The only other suggestion I have is using the non-filer tool the IRS set up to see if you can input your grandsons information in there, but if you have already received your check then I'm not sure if you will be able to.

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    I unfortunately do think the IRS will stick to this. Just my gut feeling. I know they have reversed course before and it is possible they do so again here. But the reason why I don't think so with this situation is because they would have to send/deposit another check. And I think that's their line in the sand.. they do not want to issue multiple check advances to the same person/couple for stimulus. That's the impression I have been getting reading all their press releases and FAQs. Would be very surprised if they change their tune on that, even though they should.