Question

2020 AGI and stimulus payment

Forum|Forum|5 years ago
March 17, 2021
1 reply
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Our 2019 taxes would have qualified us for a $5,600 credit. Sadly I already filed our 2020 taxes and it resulted in us getting a $861 stimulus payment. Is there anything we can do? It feel so unfair to be punished for already filing before we knew what the income limits would be.

Not A Product Question

H

HelenC12

No, there's nothing you can do. The IRS already has your 2020 income tax return. The IRS used your 2020 income tax return to determine how much of the third stimulus you were eligibility for.

To be eligible for the third stimulus, you need to meet the following requirements:

Families earning less than $150,000 a year and individuals earning less than $75,000 a year should get the full $1,400 per person.
Families earning up to $160,000 per year and individuals earning up to $80,000 per year will receive prorated amounts.
One notable difference from the first two stimulus is that you will receive stimulus payments for all your dependents, including adult dependents and college students.

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