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Sunday, May 29, 2022

Stimulus Check Update: Recovery Credit Error Not A Scam

In a late twist in the stimulus check saga, quite a few taxpayers have turned pretty confused at the sight of two letters from the IRS. The first letter sent from the agency has notified the taxpayers that the IRS had brought forth a few changes to their tax returns. Due to these changes, the taxpayer could either owe money to the agency or will be issued a refund. There is also a possibility that they have a balance of zero, and everything is fine for them. So, things should be alright? But that surprisingly doesn’t seem to be the case.

Stimulus Check Credit Is Not A Scam 

The confusion sprang up as many taxpayers started noticing a second letter, which went on to reference the first letter, notifying the individuals that they had a right to get the first letter repealed. The second notice further apologized for not bringing up the provision where taxpayers could appeal the first time around. The second letter, in the wake of a stimulus check, has led many people to wonder if this could be a scam- with messages flooding Facebook and other social media groups. 

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The IRS has clarified that this is definitely not a scam. As mentioned quite a few months ago, the agency had previously delivered around 5 million faulty math error notices that somehow forgot to inform taxpayers of this right to appeal the claims. Interestingly, these notices were sent to exactly those people who claimed the recovery rebate credit.

For the uninformed, this credit helps one claim their stimulus check payments if they haven’t received one already. In quite a few cases, the notice went on to state that the amount for the rebate was smaller, or that they weren’t eligible for a recovery rebate. 

In the event that you have already gone through your math once, and still believe that you deserve the stimulus check, you would have to appeal within 60 days- but you might need to bring about some documentation that would establish your eligibility. 

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