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Sunday, September 25, 2022

Stimulus Check: You Could Be In Line For Repayment For Any One Of The Five Reasons

The Internal Revenue Service has been sending stimulus checks for the past couple of years and it had time to evaluate the records. There is a chance that some of the people who received check payments must repay at least a part of it.

With checks going out in their millions in record numbers, mistakes were inevitably made and people who did not deserve a stimulus check also received them. If you are one of those whom the IRS considers not eligible for the stimulus check, you will be instructed to repay part or all of the amount.

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Mistakes may arise from sending checks to people who fall in the higher income bracket and thus do not deserve a stimulus check. Whatever be the reason, you can expect a letter from the authorities for any one of the five reasons.

Multiple Reason The IRS Can Request A Return Of A Stimulus Check Amount

Each of the stimulus checks had a well-defined income threshold. The check amount was phased out once the individual or family income crossed that threshold. It is apparent that of the millions of checks sent in the past two y, a small percentage of them went to people with income exceeding the threshold, but received a check that was more than their eligible amount.

The most likely mode of contact will be an old fashion mail to the last mailing address.

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Receiving a check for a deceased person is another frequent mistake that the IRS committed during payment of all three stimulus checks. The IRS cannot know of the death of a person until it is stated in a joint return filed by the spouse.

Non-citizens who have wrongly received a stimulus check will receive a letter instructing them to refund the amount. There is also the chance that a person may have received an amount twice. A letter seeking a refund for that error can be expected soon.

If you have received a letter and concur with the matter, you need to draw a check to the IRS for the sum owed. You need to include your SS number and add a note detailing the reason for returning the amount.

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