luckyexwife
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Posts: 3,067 
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Post by luckyexwife on Mar 17, 2021 13:36:13 GMT
If someone received the stimulus based on 2019 numbers, but made too much money in 2020, will they take it back when you file 2020?
I've heard if you didn't qualify in 2019, but made less in 2020, you will get it when you file your taxes, but does it work the other way around?
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Post by maryland on Mar 17, 2021 14:02:26 GMT
I have no idea! Interesting question. But it wouldn't surprise me if they do take it back.
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Post by beepdave on Mar 17, 2021 14:02:56 GMT
I found one article that says no. www.nasdaq.com/articles/earn-too-much-for-a-third-stimulus-check-you-may-have-options.-2021-03-11"Rely on Your 2019 or 2021 Tax Returns Can’t deduct your way to a stimulus check? Stick to your 2019 tax return or the one you’ll be filing for tax year 2021, if either of those AGIs would qualify you. If your 2019 AGI met the third stimulus bill’s criteria but your 2020 AGI doesn’t, hold off on filing your 2020 taxes until your stimulus check arrives. You can even file an extension with the IRS to put off filing until October 15. Once you qualify for a stimulus check and get paid, experts do not expect the government to demand repayment if your AGI rises above the cutoffs in a later 2020 or 2021 tax filing." |
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luckyexwife
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Posts: 3,067
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Post by luckyexwife on Mar 17, 2021 14:05:37 GMT
I found one article that says no. www.nasdaq.com/articles/earn-too-much-for-a-third-stimulus-check-you-may-have-options.-2021-03-11"Rely on Your 2019 or 2021 Tax Returns Can’t deduct your way to a stimulus check? Stick to your 2019 tax return or the one you’ll be filing for tax year 2021, if either of those AGIs would qualify you. If your 2019 AGI met the third stimulus bill’s criteria but your 2020 AGI doesn’t, hold off on filing your 2020 taxes until your stimulus check arrives. You can even file an extension with the IRS to put off filing until October 15. Once you qualify for a stimulus check and get paid, experts do not expect the government to demand repayment if your AGI rises above the cutoffs in a later 2020 or 2021 tax filing." Thank you! I was googling, but I didn't find that article. |
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Post by jeremysgirl on Mar 17, 2021 14:11:52 GMT
My question is that I received stimulus money for my kids today. But my kids filed independently for 2020. I'm a bit nervous once they process their returns, they will send them another stimulus check, leaving me on the hook for that $2800. I hope that doesn't happen. I'm writing both my kids a check today for their $1400 and I told them if by chance, they get more money, they need to give it back to me because I'm nervous I will be liable for it. Both my kids were dependents in 2019. Both my kids were not dependents in 2020. Both kids claimed the previous stimulus checks on their 2020 tax return. Neither of their returns have been processed yet as we just filed them last week. My 2020 return has not yet been filed.
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luckyexwife
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Posts: 3,067
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Post by luckyexwife on Mar 17, 2021 14:15:04 GMT
My question is that I received stimulus money for my kids today. But my kids filed independently for 2020. I'm a bit nervous once they process their returns, they will send them another stimulus check, leaving me on the hook for that $2800. I hope that doesn't happen. I'm writing both my kids a check today for their $1400 and I told them if by chance, they get more money, they need to give it back to me because I'm nervous I will be liable for it. Both my kids were dependents in 2019. Both my kids were not dependents in 2020. Both kids claimed the previous stimulus checks on their 2020 tax return. Neither of their returns have been processed yet as we just filed them last week. My 2020 return has not yet been filed. The reason for my question is along those same lines...I received the stimulus for my ex. I'm writing him a check for it, but I know he doesn't qualify with his 2020 income. He has his tax appointment next week, I don't want to have his $1400 taken back out of my checking account! |
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Post by jeremysgirl on Mar 17, 2021 14:18:11 GMT
My question is that I received stimulus money for my kids today. But my kids filed independently for 2020. I'm a bit nervous once they process their returns, they will send them another stimulus check, leaving me on the hook for that $2800. I hope that doesn't happen. I'm writing both my kids a check today for their $1400 and I told them if by chance, they get more money, they need to give it back to me because I'm nervous I will be liable for it. Both my kids were dependents in 2019. Both my kids were not dependents in 2020. Both kids claimed the previous stimulus checks on their 2020 tax return. Neither of their returns have been processed yet as we just filed them last week. My 2020 return has not yet been filed. The reason for my question is along those same lines...I received the stimulus for my ex. I'm writing him a check for it, but I know he doesn't qualify with his 2020 income. He has his tax appointment next week, I don't want to have his $1400 taken back out of my checking account! The good thing here is that I know my kids will give me back the money, if need be. I'd be nervous my ex-husband wouldn't. |
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Post by liya on Mar 17, 2021 14:24:31 GMT
My question is that I received stimulus money for my kids today. But my kids filed independently for 2020. I'm a bit nervous once they process their returns, they will send them another stimulus check, leaving me on the hook for that $2800. I hope that doesn't happen. I'm writing both my kids a check today for their $1400 and I told them if by chance, they get more money, they need to give it back to me because I'm nervous I will be liable for it. Both my kids were dependents in 2019. Both my kids were not dependents in 2020. Both kids claimed the previous stimulus checks on their 2020 tax return. Neither of their returns have been processed yet as we just filed them last week. My 2020 return has not yet been filed. This is exactly my situation too. But just for my one DS. |
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River
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Jun 26, 2014 15:26:04 GMT
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Post by River on Mar 17, 2021 14:31:19 GMT
That's the whole reason I waited to file my taxes. 2019 I qualified because I was still married and we filed joint, he had a low income year so we were under the threshold. For 2020, I'll be filing single (divorced) and would be over the threshold by like a hundred dollars.
Everything I read said to wait and file after the stimulus, nothing was ever said about it being taken back after filing. But now you've got me worried.
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Post by donnab on Mar 17, 2021 15:18:17 GMT
I have the same question. My daughter will be filing independently for 2020 but has not filed yet. We received her stimulus today. I don't want to give it to her if we will have to pay it back. I'm thinking we will hold onto it until we hear further. Already, when she files she will qualify for the other 2 stimuluses she did not receive.
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Post by jeremysgirl on Mar 17, 2021 15:23:44 GMT
donnab & liya I have googled 7 ways to Sunday and I can't find an answer on this one. My kids did claim the first two stimulus checks on their 2020 tax returns. We filed them last week.
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Rhondito
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Post by Rhondito on Mar 17, 2021 15:23:59 GMT
I have a question too!
Do people who are on Social Security and don't file taxes get a stimulus? My mother has gotten all the other ones, but so far hasn't received this one. Mine, my daughter, and older brother's hit our accounts this morning, but nothing for my mom.
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Post by karinec on Mar 17, 2021 15:35:04 GMT
I have a question too! Do people who are on Social Security and don't file taxes get a stimulus? My mother has gotten all the other ones, but so far hasn't received this one. Mine, my daughter, and older brother's hit our accounts this morning, but nothing for my mom. I think if the IRS doesn’t have her direct deposit info, then she will get a check. Since she doesn’t file a tax return that may be the issue. |
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Rhondito
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Post by Rhondito on Mar 17, 2021 15:38:54 GMT
I have a question too! Do people who are on Social Security and don't file taxes get a stimulus? My mother has gotten all the other ones, but so far hasn't received this one. Mine, my daughter, and older brother's hit our accounts this morning, but nothing for my mom. I think if the IRS doesn’t have her direct deposit info, then she will get a check. Since she doesn’t file a tax return that may be the issue. They do, her monthly check is direct deposited and the other two stimulus checks were as well. I think I found my answer though - I saw an article that said on Friday the IRS said a date had not been announced yet for SS and other federal benefit recipients to receive their checks. You know, you'd think those people would be first to get them...
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Post by bianca42 on Mar 17, 2021 15:44:12 GMT
Here's my experience with the first check. We qualified with our 2018 return and not with 2019. Since we hadn't filed 2019 yet, we received the first payment.
I've done my 2020 taxes, but haven't filed them yet because I owe money. However, I do not have to pay back the first stimulus check. (I did enter the amount that I received in the H&R Block software and it didn't change my amount owed.)
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Post by candleangie on Mar 17, 2021 15:44:28 GMT
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luckyexwife
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Post by luckyexwife on Mar 17, 2021 15:49:23 GMT
Your link goes to the general page. In my specific case, I actually received his deposit in my account. What are you seeing? Since the money was already deposited, why would they give it to him again? ETA: I do see the answer to my specific question, thank you! But still wondering why I shouldn't give him his stimulus amount? |
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Post by jeremysgirl on Mar 17, 2021 15:52:02 GMT
Your link goes to the general page. In my specific case, I actually received his deposit in my account. What are you seeing? Since the money was already deposited, why would they give it to him again? Yeah this candleangie . My kids could really use this money. I'd hate for them to have to wait until 2021 to get it. ETA: I would really like some back up before I make the decision to withhold their stimulus money from them. |
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Post by candleangie on Mar 17, 2021 16:04:06 GMT
Your link goes to the general page. In my specific case, I actually received his deposit in my account. What are you seeing? Since the money was already deposited, why would they give it to him again? ETA: I do see the answer to my specific question, thank you! But still wondering why I shouldn't give him his stimulus amount? He’s already going to receive his amount when he does his taxes. It’s not necessary to shuttle money around. The link you need is near the bottom and says something about reconciling your taxes. If you’re sending it because they need it now, excellent. But if you’re writing a check because you’re concerned that they won’t get paid because you have their money....they will get paid eventually. |
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Post by jeremysgirl on Mar 17, 2021 16:06:30 GMT
ETA: I do see the answer to my specific question, thank you! But still wondering why I shouldn't give him his stimulus amount? Can you link? He’s already going to receive his amount when he does his taxes. It’s not necessary to shuttle money around. My kids too? Are they going to take the money back from me? |
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luckyexwife
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Posts: 3,067
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Post by luckyexwife on Mar 17, 2021 16:12:42 GMT
Your link goes to the general page. In my specific case, I actually received his deposit in my account. What are you seeing? Since the money was already deposited, why would they give it to him again? ETA: I do see the answer to my specific question, thank you! But still wondering why I shouldn't give him his stimulus amount? He’s already going to receive his amount when he does his taxes. It’s not necessary to shuttle money around. The link you need is near the bottom and says something about reconciling your taxes. If you’re sending it because they need it now, excellent. But if you’re writing a check because you’re concerned that they won’t get paid because you have their money....they will get paid eventually. Are you seeing that they will take his $1400 that was deposited into my account back out of my account? As far as the IRS is concerned, he did receive the stimulus, so I'm confused why they would give it to him again? |
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Post by candleangie on Mar 17, 2021 16:12:57 GMT
ETA: I do see the answer to my specific question, thank you! But still wondering why I shouldn't give him his stimulus amount? Can you link? He’s already going to receive his amount when he does his taxes. It’s not necessary to shuttle money around. My kids too? Are they going to take the money back from me? There’s no way to link directly to the info you need. Here’s a copy/paste from the page. |
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Post by candleangie on Mar 17, 2021 16:15:53 GMT
My DD was a dependent in 2019, but moved out in November of that year.
We received payment for her first two stimulus both times (based off of our 2019 taxes)
When she did her taxes, she qualified for the payments so she received them both in her return.
When we did our taxes this year we were told that the estimate stands, they do not look for repayment. Period.
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Post by jeremysgirl on Mar 17, 2021 16:15:57 GMT
So it looks like my child payments will not be needed to be paid back in any case. But my children will still be able to claim their share of the payment. That is odd. Now I'm not quite sure what to do with all this money.
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Post by jeremysgirl on Mar 17, 2021 16:16:41 GMT
My DD was a dependent in 2019, but moved out in November of that year. We received payment for her first two stimulus both times (based off of our 2019 taxes) When she did her taxes, she qualified for the payments so she received them both in her return. When we did our taxes this year we were told that the estimate stands, they do not look for repayment. Period. Thank you, so, so much. I appreciate you sharing. This puts my mind more at ease. |
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Post by liya on Mar 17, 2021 17:21:49 GMT
Wow!! So all that money is mine??
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luckyexwife
Pearl Clutcher
Posts: 3,067
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Post by luckyexwife on Mar 17, 2021 17:22:04 GMT
My DD was a dependent in 2019, but moved out in November of that year. We received payment for her first two stimulus both times (based off of our 2019 taxes) When she did her taxes, she qualified for the payments so she received them both in her return. When we did our taxes this year we were told that the estimate stands, they do not look for repayment. Period. So the IRS paid the amount twice? Once to you, and once to your child? I think my specific case is different, in that my ex is not a dependent, but we filled jointly in 2019. When he files single for 2020, he wouldn't get it again, would he? |
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Post by candleangie on Mar 17, 2021 17:39:19 GMT
Yes they paid twice.
I think you’re probably right re: your ex, but in that case you need to pay it back to the irs and they will pay him. Otherwise you’re on the hook if they ask for repayment
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Post by beepdave on Mar 17, 2021 19:36:34 GMT
My DD was a dependent in 2019, but moved out in November of that year. We received payment for her first two stimulus both times (based off of our 2019 taxes) When she did her taxes, she qualified for the payments so she received them both in her return.
When we did our taxes this year we were told that the estimate stands, they do not look for repayment. Period. It may be more complicated than this, but did she answer YES when asked if she received the payment? Because I'm thinking she should have said YES since you did receive the money on her behalf at that time. I'm thinking the system would have not given her the credit then. |
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Post by stormsts on Mar 18, 2021 0:42:49 GMT
The IRS will NOT take any stimulus money back. There are going to be some double payments due to some taxpayers being paid the money based off their 2019 tax return and others off their 2020 return. A lot of cases like many of you are experiencing with children being dependents on 2019 tax return but not 2020.
Now I’m going back to crying in my drink because the IRS extended the tax season to May 15...
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