Baller Alert
  • Home
    • News
    • Entertainment
    • The Baller Alert Show
    • Baller Alert Lists
    • Baller Alert Exclusives
    • Let Me Liv
    • Ballerific Music
    • That’s Baller
    • Fashion
    • Metaverse
    • Tech
    • Lifestyle
    • Sports
    • Op-Ed
    • Travel
    • Health
  • EVENTS
  • Videos
  • Shop
  • About
  • Political News
  • en español
No Result
View All Result
  • Home
    • News
    • Entertainment
    • The Baller Alert Show
    • Baller Alert Lists
    • Baller Alert Exclusives
    • Let Me Liv
    • Ballerific Music
    • That’s Baller
    • Fashion
    • Metaverse
    • Tech
    • Lifestyle
    • Sports
    • Op-Ed
    • Travel
    • Health
  • EVENTS
  • Videos
  • Shop
  • About
  • Political News
  • en español
No Result
View All Result
Baller Alert
No Result
View All Result

IRS Announces More Stimulus Checks Are “On The Way”; Explains Why Your Check May Not Meet Your Expectations

by Royal
May 18, 2020
Reading Time: 2 mins read
0
stimulus checks

twenty20

Share on FacebookShare on Twitter

According to Fortune, the IRS stated this past Monday that they sent out 130 million stimulus checks and that more are on the way.

The agency explained in a release several reasons why people may have had expectations of receiving a certain amount in their check and ended up receiving less than they hoped for or more than they should have.

The top reason for your check amounting to less or more than expected is because the IRS is basing their decision on old information. This could have occurred because you didn’t file a 2019 return, or if you did file, it wasn’t processed during the time that the IRS calculated your stimulus check. This would lead the agency to use the information from your 2018 return as a default.

Changes including higher or lower-income and the birth or adoption of a child would not have been calculated. The IRS stated on their website, “In many cases, however, these taxpayers may be able to claim an additional amount on the 2020 tax return they file next year. This could include up to an additional $500 for each qualifying child not reflected in their Economic Impact Payment.”

Another possibility for the amount you received being different from your expectations could be a disparity in whether your dependent claimed was eligible for the child credit of $500. In order to claim the credit, the taxpayer has to be related to the child, reside within the same household for more than half of the year, and provide at least half of their support.

Also, keep in mind: “Parents who are not married to each other and do not file a joint return cannot both claim their qualifying child as a dependent.” Furthermore, college students do not generally qualify for an additional $500 credit.

The IRS also shared on their website that past-due child support could have been deducted from your check, or garnishments by creditors, which is another important factor to consider for your check being lower than expected.

It was recommended by the agency for everyone to keep the letter they received from the IRS after the check was dispersed. “In many instances, eligible taxpayers who received a smaller-than-expected Economic Impact Payment (EIP) may qualify to receive an additional amount early next year when they file their 2020 federal income tax return,” the agency stated.

stimulus
twenty20

Share this:

  • Click to share on X (Opens in new window) X
  • Click to share on Facebook (Opens in new window) Facebook
  • Click to share on Mastodon (Opens in new window) Mastodon
  • Click to share on Reddit (Opens in new window) Reddit
  • Click to share on X (Opens in new window) X
  • Click to share on WhatsApp (Opens in new window) WhatsApp
  • Click to share on Tumblr (Opens in new window) Tumblr
  • Click to email a link to a friend (Opens in new window) Email
  • Click to share on Pinterest (Opens in new window) Pinterest

Like this:

Like Loading...

Discover more from Baller Alert

Subscribe to get the latest posts sent to your email.

Tags: Newsstimulus check

Related Posts

Trump Says He’s Saving You Money—But Groceries Still Don’t Know That
News

Trump Says He’s Saving You Money—But Groceries Still Don’t Know That

June 30, 2025

Donald Trump is back in office—and back on social media—claiming he’s delivered major wins for the American consumer. In a...

wnba
News

The WNBA Is Taking Over: Detroit, Cleveland, and Philly Set to Join the League by 2030

June 30, 2025

The WNBA is leveling up in a major way. The league announced that three new teams—Cleveland, Detroit, and Philadelphia—are officially...

Adriana Smith Buried After Georgia Law Forced Brain Dead Woman to Stay Alive to Give Birth
News

Adriana Smith Buried After Georgia Law Forced Brain Dead Woman to Stay Alive to Give Birth

June 30, 2025

Family and friends gathered at Fairfield Baptist Church in Lithonia, Georgia, on Saturday, June 28th, to honor the life of...

Gang Member Who Killed Teen Junior Guzman-Feliz Found Dead Behind Bars
News

Gang Member Who Killed Teen Junior Guzman-Feliz Found Dead Behind Bars

June 29, 2025

Jonaiki Martinez-Estrella, the man convicted of delivering the fatal stab to 15-year-old Lesandro “Junior” Guzman-Feliz, was found dead at Coxsackie...

Next Post

Wisconsin Nurse Caught On Video In A Crowded Bar Without a Mask

Leave a ReplyCancel reply

Baller News

Subscribe To Our Newsletter

* indicates required

Follow Us

Subscribe to Blog

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

© Copyright 2024, Baller Alert Inc. All Rights Reserved

No Result
View All Result
  • Home
    • News
    • Entertainment
    • The Baller Alert Show
    • Baller Alert Lists
    • Baller Alert Exclusives
    • Let Me Liv
    • Ballerific Music
    • That’s Baller
    • Fashion
    • Metaverse
    • Tech
    • Lifestyle
    • Sports
    • Op-Ed
    • Travel
    • Health
  • EVENTS
  • Videos
  • Shop
  • About
  • Political News
  • en español
%d