Ask Terry Questions Stimulus – possible overpayment

Stimulus – possible overpayment

By Terry Savage on March 20, 2021 | Wild Card

Hello Terry, my wife and I received the first two stimulus checks in 2020. My son was 21 for most of the year, and in college. My daughter, 23 for most of the year, is a recent graduate and lives home. We declared both of them as dependents last year. We have not filed yet for this year, but my daughter did (her first year filing and no longer our dependent). My daughter received the first two stimulus payments a couple of weeks ago as part of her tax refund/filing process, and yesterday received the third payment for $1,400.00. We received $5,600.00 though. Were we overpaid? I don’t want to end up owing the IRS interest. When we file this year, our son will be our only dependent. Thank you very much,

Terry Says

Hmm, that’s a rare mistake. I bet they figure it out when they compare SS numbers — and ask you for the money back eventually. BUT don’t try to send it to them or tell them. They can’t handle something so unusual! Just deposit all checks, and save the extra $1400 you received. They dont’ charge interest on their mistakes!

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