(FinancialHealth.net) – Last week we told you about the IRS sending Economic Impact Payments to dead people. The government was rushing to send money to the American people to help them get through the COVID-19 crisis, and in the process, it made several mistakes. That doesn’t mean Uncle Sam doesn’t want the money back.
On May 6, the IRS released new guidance and made it clear the survivors of the deceased must send the stimulus payments back.
SPREAD THE WORD: The IRS finally updated its guidance to say dead people who received the $1,200 relief payment must return it to the IRS.
— Heather Long (@byHeatherLong) May 6, 2020
According to the directive by the IRS, people who received the money for their dead relatives can return it two ways:
- If the money arrived via direct deposit, you should send a personal check or money order to the appropriate location listed here. Address the payment to “US Treasury.” The Social Security number or taxpayer identification number of the person the money was intended for and “2020EIP” should also be on the check. Include an explanation for the return.
- If the payment came as a paper check, you should write “Void” on the signature line. Include a note explaining why you’re returning the check and mail it to the address listed in the link above.
Other people who aren’t eligible, including prison inmates, must also send their Economic Impact Payments back. The government hasn’t said what the consequences will be if people don’t return the money, but it’s best to not find out. Hopefully, the IRS gets it together and doesn’t continue sending tax dollars to people who shouldn’t receive it.
~Here’s to Your Financial Health!
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