Have you received an Economic Impact Payment in Error?
Foster Parents who have foster children moving in and out of their homes may be in the position of having received a stimulus payment for a child no longer in their care.
The following guidelines can help us make sense of the procedure for returning these payments.
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Issue Number: COVID Tax Tip 2020-73Returning an Economic Impact Payment
Millions of eligible individuals have already received their Economic Impact Payments. Some people, including those who received a payment for a deceased individual, may be unsure whether they should return a payment.
Here is additional information about returning an Economic Impact Payment.
How should an individual return an Economic Impact Payment?
Mail the payment to the IRS address – based on the state the person lives in – as indicated in the FAQs about repayments. When returning a paper check that was not cashed or deposited taxpayers should:
• Write Void in the endorsement section on the back of the check. • Mail the voided Treasury check immediately to the appropriate IRS location. • Don’t staple, bend or paper clip the check. • Include a brief explanation of why they return the check. When returning a direct deposit or a paper check that was cashed or deposited taxpayers should:
• Mail a personal check, money order, etc., to the appropriate IRS location. • Make the check or money order payable to U.S. Treasury and write 2020 EIP, and the taxpayer identification number, Social Security number or individual taxpayer identification number of the person whose name is on the check. • Include a brief explanation of why they are returning the Economic Impact Payment. Taxpayers should visit Economic Impact Payment Information Center on IRS.gov for information on how to return or request a replacement EIP debt card.
When returning a payment for someone who has died:
A payment made to someone who died before they received the payment should be returned to the IRS. Return the entire payment unless it was made to joint filers and one spouse is still living. In that case, return half the payment, but not more than $1,200. If someone can’t deposit a check because it was issued to both spouses and one spouse has died, the individual should return the check. Once the IRS receives and processes the returned payment, an Economic Impact Payment will be reissued to the surviving spouse.
The IRS encourages people to share this information with family and friends.
More information:
Economic Impact Payment FAQs Share this tip on social media — #IRSTaxTip: Returning an Economic Impact Payment. https://go.usa.gov/xwU8S
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