Ask Terry Questions 2nd Stimulus payment

2nd Stimulus payment

By Terry Savage on January 18, 2021 | Wild Card

My adult son’s taxes are linked to my bank account. The first stimulus funds came through as $1200(for my son)and a $2400(for my husband & self)I recently received 2 IRS credits one for $600 and the other for $602.90. I was expecting $600 and $1200. Any idea why the discrepancy? Thanks for your help

Terry Says

That’s strange. Was your 2019 income over the 150,000 limit for a couple? If your 2020 income (taxes you will file soon) was below the limit of %150,000 on a joint return, then you can file for a credit for that $598 on line 30 of your 2020 return. It is a refundable credit that will come back to that bank account so make sure they have your direct deposit info.

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