You may not even be sure how much money you are supposed to be receiving in a stimulus check, or even if you qualify for a stimulus check at all. Unfortunately, not knowing how much money you should or should not be getting from the IRS can lead to complications for you financially. This is because the IRS is issuing these checks so quickly they are making errors, including sending too much money to individuals. Whenever the IRS makes an error that leads to you getting more money than you qualify for, the money is not yours to do as you please with, the IRS expects you to return it to them as soon as possible.
Understanding the qualifications for a stimulus check are critical to understanding who is and is not eligible for a second stimulus check. If you fall under any of the categories below and also received a stimulus check, it is likely an error:
-You received a check for someone who has died — there’s some nuance, more below.
-You don’t have a Social Security number.
-You’re considered a ‘nonresident alien’ without a US citizen spouse.
-You’re a noncitizen who files federal taxes.
-Your adjusted gross income exceeds the limit, for example, $87,000 for a single taxpayer.
-You’re claimed as a dependent on someone else’s taxes.
How Do I Send Stimulus Money Back To The IRS?
If any of the above statements pertain to you, you may need to send your stimulus check back. Here’s how to do it for each scenario, according to the IRS:
Returning a paper check that hasn’t been cashed or deposited:
- Write VOID in the endorsement section on the back of the check.
- Do not bend, paper clip or staple the check.
- On a separate piece of paper, let the IRS know why you’re sending the check back.
- Mail the check to the appropriate IRS location — it varies depending on which state you live in.
Returning a direct deposit or a paper check that was cashed or deposited:
- Use a personal check or money order and make the check payable to US Treasury. You’ll also need to write 2020 EIP and include the taxpayer identification number or Social Security number of the person whose name is on the check.
- On a separate piece of paper, let the IRS know why you’re sending the check back.
- Mail the check to the appropriate IRS location — it depends on which state you live in.
Returning a check for someone who has died:
If you receive a payment for someone who died in 2019 or earlier, the IRS says you should return the entire payment “unless it was made to joint filers and one spouse is still living.” If you’re the living spouse, you should return half the payment — just not more than $1,200 in all.
However, if the check is issued in both your name and your deceased spouse’s name (and therefore you can’t deposit the money), you’ll need to return the whole amount to the IRS. After the agency can process the returned payment, it will issue you a new check with the correct amount for you.
What if I haven’t received a stimulus check yet?
If you were among the millions of Americans who are eligible to receive the second stimulus check but haven’t received it, you may be able to claim it as a Recovery Credit Rebate on your taxes. Also, note that for a few days more, the payment could still be in transit if you’re receiving a paper check or EIP card in the mail. If so, you can track it through USPS.
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