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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.