qbteachmt
Level 15
02-25-2021
01:58 PM
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"Is there an IRS example that I can show the family to alleviate their fear of the IRS "coming to get them"?"
Right here...
Perhaps it would help to review what is really happening:
The funds were paid out as Advanced payment against a projection. The projection used 2018 or 2019 tax returns. But 2020 is the Actuals. You use the 2020 return to reconcile what a person is entitled to, against what they got.
You might want to bookmark these links and read the IRS guidance.
https://www.irs.gov/newsroom/economic-impact-payment-information-center-topic-a-eip-eligibility
https://www.irs.gov/coronavirus/second-eip-faqs#Eligibility
One for each EIP.
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Don't yell at us; we're volunteers
Don't yell at us; we're volunteers