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Finally received my stimulus check. But, it’s much less than what I expected. Why is it so? Just received $800.

First of all, the payments are based on your previous income and there are other considerations too. So, calculate carefully.
However, if you've received lower payment, the IRS may allow you to reconcile underpayment on your next year's tax return.

Sub: #1 posted on Fri, 07/31/2020 - 08:25

Good Nelly Good Nelly
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Hello Lewes!

There may be several reasons beyond why you have received only $800.

The $1200 stimulus check was mainly focused on lower and middle-class Americans. The more anyone will earn higher, the less amount he/she will get payment in check.

Maybe you have made the wrong calculation on Rebate. Chances are the government may have made some mistake at the time of calculation.

Your ‘Past Tax Return’ is the basis on which the figure of your stimulus check had been decided. In the meantime, if you have lost your job, maybe the government is still not aware of it.

But don’t worry, financial veterans are saying when you’ll file your 2020 tax return, the mistake will be corrected. But you can’t do anything immediately.

Thanks! Keep posting!

Sub: #2 posted on Sat, 08/01/2020 - 21:27

Ryan Miller Ryan Miller

(Posts: 249 | Credits: )

Hi Lewes!
Well, it might happen that the IRS has not processed your 2019 return yet. Or, your dependents have not qualified for getting an extra $500 per child.

Sub: #3 posted on Sun, 08/02/2020 - 21:50

Craigh.terry Craigh.terry

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