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Does anyone have clients receiving these "Plus-Up Payments"? I have had about 4 already. They are receiving an additional stimulus check. However, they already received the full amount. Can they cash them? Should they be sent back?
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The Plus-up Payments are for the third EIPs - the $1400 payments - correct? So your clients received the full amount allowed and are now receiving more?
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This is correct.
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♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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I believe you are referring to more 2021 advance payments for having children. Did these people file their 2020 tax returns?
The $1,400 alone would have been for a single person. If children were added in the 2020 return, there is now an extra $1,400 for each child.
Cash the checks. because everyone knows that IRS really has a handle on this!
Answers are easy. Questions are hard!