2021 Stimulus Payment reduced
Hi Terry,
I received a direct deposit of my stimulus payment to my account on Jan 4th 2021 in the amount of $314.85. Is there any reason for the shorted amount? I received to full first stimulus payment last year. This has puzzled. I am unable to get a question through to IRS.
Thank you,
Terry Says
Did you earn more than $75,000 on your 2019 tax return? That could be the reason for the shortage. But don’t worry. If you earned under the $75,000 limit on the 2020 return which you can file next month, you can file for a credit for the portion of the second stimulus you did not receive. And if you didn’t get the first stimulus but are under $75000 in 2020, you can file for a REFUNDABLE CREDIT for the original $1200!
