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Tuesday, August 9, 2022

Stimulus Check: The Letter From IRS About An Error Is Real

Americans who received the stimulus check have started getting a message from the IRS which speaks about a math error with their taxes.

The Internal Revenue Service is mailing letters to millions of people, warning them of a possible error on their tax return. 

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If you recently received one of these letters, it is important that you read through it. Government officials say it might be confusing but it is not a scam. 

Stimulus Check: What Is The CP12 Notice?

According to the IRS website, this means one or more mistakes on your tax return were corrected and it resulted in either a different refund amount or an overpayment when you thought you owed. 

It is estimated that about 9 million of these have been sent to Americans.

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This notice informs the people that there could be an error on their tax return and the IRS is making changes. It could be anything from putting the wrong numbers on your stimulus check to leaving off certain withholdings. 

People are getting such letters as they had qualified for the previous year’s Recovery Rebate Credit. This was a special benefit that most people benefitted in the form of a stimulus check. 

People who did not receive a stimulus check, or received less, may be eligible for the Recovery Rebate Credit. 

If you agree with the notice, and everything seems to check out then you do not need to do anything. If you don’t agree with their changes, you can contact the IRS within 60 days. 

The IRS says they may reverse the change for any person who contacts them with 60 days if they provide adequate documentation that justifies the reversal. If you don’t contact the IRS within 60 days, you’ll lose your right to appeal their decision.

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