According to all the calculators I was supposed to receive $1,200 for the EIP. I received less than $250. I have not found a way to ask why. Websites and phone menus have given me only general information. Where can I find out why I received the amount I did?
There were only a few reasons why the Economic Impact Payment would be lower than $ 1200 for those eligible to receive one.
1. Income Limit - Once your income goes over $ 75,000 based on the tax return that was used to compute it, it starts being reduced and complete phases out at $ 99,001 (double that if MFJ. Those with the tax classification of Head of Household have other limits.
The Economic Impact Payment is automatic for eligible people who filed a tax return in 2018 or 2019. They're also automatic for those who aren't required to file a tax return but who receive:
Social Security retirement, survivor or disability benefits.
Railroad Retirement benefits.
Supplemental Security Income.
Veterans Affairs benefits.
People who receive less than expected can go to IRS.gov and review this chart (PDF) to check the payment they should receive. It has examples that use filing status and income to calculate the payment amount.
Here are some common things that help explain what may have happened:
The taxpayer hasn't filed a 2019 tax return, and their payment was based on the 2018 return. This could also be the case if the IRS has not finished processing the 2019 return.
The qualifying child is not under the age of 17. For purposes of the payment, the child's age is how old they are at the end of the year for the tax return on which the IRS bases the payment amount. If a dependent is 17 or older, they don't qualify for the additional $500. This includes a parent or other relative, and college students.
The Economic Impact Payment was offset by past-due child support. While this is the only offset that can affect the payment amount, federal law allows creditors to garnish a payment once it's deposited into a bank account.
In many instances, eligible taxpayers who received a payment that was smaller than expected may get an additional amount early next year when they file their 2020 federal income tax return.