Sumary of The Moneyist: I received two $1,400 stimulus payments because I was also claimed as a dependent. Should I give one back?:
- This third stimulus check is an advanced tax credit on your 2021 taxes, and calculated based on your 2020 taxes..
- You both received one check too many because those claiming the adult as a dependent had not filed their 2020 taxes, so the IRS used previous tax filings as a guide..
- “If one of you doesn’t file an amended return that removes the child-related benefits, then the IRS will audit you and/or the other person to determine who can claim the dependent.”.
- You can return the money via check or money order with your Social Security number or taxpayer ID of the recipient, made payable to “U.S…