Are you still waiting for your Economic Impact Payment that 160 million Americans already received months ago? Did you get your payment but it was for the wrong amount?
The IRS initially said you needed to wait until filing your 2020 tax return to resolve any issues with missing or incorrect Economic Impact Payments (EIP). Thanks to the prodding of the Taxpayer Advocate Service (TAS), the IRS has established procedures to help correct payment issues in the following scenarios:
Missing dependent. Eligible individuals who normally do not have to file a tax return and claimed at least one qualifying child but did not receive the qualifying child portion of the EIP. The IRS will issue supplemental EIPs with respect to those qualifying children in the coming weeks.
Injured spouse. Eligible individuals who filed Form 8379, Injured Spouse Allocation (or can complete and return the Form 8379), and did not receive their EIP. The IRS will issue the injured spouse’s portion of the EIP in the coming weeks.
Math error. Eligible individuals whose EIP was based on a 2018 or 2019 tax return where the IRS adjusted the return for a math error that negatively impacted the original amount of the EIP (e.g., Qualifying Child, Adjusted Gross Income, filing status). The IRS will work with the taxpayer to resolve the math error and, if appropriate, issue a payment for the additional EIP amount.
Victims of identity theft. Eligible individuals who were victims of identity theft and did not receive an EIP or did not receive the correct EIP amount. The IRS will adjust the EIP once the identity theft issue is resolved.
Deceased or incarcerated spouse. Eligible individuals who did not receive an EIP because they filed a joint return with a deceased or incarcerated spouse and their EIP payment was not issued, was returned, or was canceled. The IRS will recalculate the EIP and issue it only to the non-deceased/non-incarcerated spouse.
What you need to do: Contact the TAS to determine if your EIP will either be corrected now or in 2021 when you file your tax return. TAS will be providing more details in the coming weeks about how to reach out to them for assistance.