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We got our 3 Stimulus Payments already. Then today we received another unexpected direct deposit from the IRS. Does anyone know what this could be?

Forum|Forum|4 years ago
June 17, 2021
1 reply
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Neither one of us received unemployment last year. We have 1 child who is 11.

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Best answer by rjs

The IRS will send you a letter explaining the deposit. You might not get the letter for a few weeks.

Here are a couple of possibilities, but these are just guesses.

If the deposit is a small amount, and your income tax refund was delayed, it could be interest on the refund.

If you repaid excess Premium Tax Credit on your tax return, it could be a refund of that payment, because repayment of excess Premium Tax Credit is suspended for 2020.

rjsAnswer

Employee

The IRS will send you a letter explaining the deposit. You might not get the letter for a few weeks.

Here are a couple of possibilities, but these are just guesses.

If the deposit is a small amount, and your income tax refund was delayed, it could be interest on the refund.

If you repaid excess Premium Tax Credit on your tax return, it could be a refund of that payment, because repayment of excess Premium Tax Credit is suspended for 2020.

Critter-3

If you got the third stimulus based off the 2019 information then you could have gotten a PLUS UP payment if you were eligible for more using the newly filed 2020 return.