What about a child's parents who are not married to each other, but both got the $500 for the same child? Will one of them have to pay that back?
The law doesn’t require
repayment of an Economic Impact Payment in these situations. Each parent
should review Notice 1444, Your
Economic Impact Payment. The IRS will mail this notice to their
last known addresses within 15 days after the payment is made. The parents
should keep the notice for their 2020 tax records.
If someone who owed tax scheduled a payment from their bank account, will the IRS send the payment to the account used?
No, the IRS will not send an Economic Impact Payment to an account used to make a payment to the IRS. If the agency doesn’t have direct deposit bank information for someone, their payment will be mailed to the address the IRS has on file.
If someone requested a direct deposit of the payment, why is the IRS mailing it?
There are several reasons why
someone’s payment may have been sent by mail. These include:
• The payment was already in process before the bank information was entered.
• The IRS does not have the correct bank account information
• The bank rejects the direct deposit
The IRS will mail the payment to the address they have on file for the taxpayer. Typically, it will take up to 14 days to receive the payment.
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