Ask Terry Questions IRS deposit credit

IRS deposit credit

By Terry Savage on August 14, 2021 | Wild Card

In June 2021, I received an $1800+ credit in my banking account that I’ve used for income tax refunds historically. Have not yet received any explaining letter, as I recall on two (of three) prior occasions during the earlier active COVID legislation period. So this is my 4th “stimulus” type payment (tax ref, taxeip2, taxeip3, tax ref descriptions respectively). Cumulatively $7,589.

Wasn’t expecting this; only research indicates IRS doing some June “refunds” on prior inadvertent taxation of unemployment payments, not applicable to me.

Any idea if this 4th payment was widespread?

Terry Says

I am hearing from people who have received unexpected and large amounts from the IRS. Since it was direct deposited, ask your bank if there was a reference number (an explainer number for an IRS form) that came along with the direct deposit.
There is no way to contact the IRS by phone these days. But you could search out a form number if you have one attached to your deposit.
I have just suggested to people in this position that they don’t spend it! The IRS could come calling for it back — though I have not (yet) heard of that happening with these recent unexplained deposits!

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