Did anyone get the wrong amount deposited from their stimulus tax payment?
My friend had this happen, and found out it was because the box was not checked on the front of her 1040 next to her son’s name and SS#. This box is labeled “check if qualifying child for child tax credit”. Just because someone is your dependent doesn’t mean they qualify for the child tax credit or the stimulus payment – they have to be under 17. So that is the purpose of the box. She doesn’t have a clear answer from the IRS yet on what to do but we figure she will have to file a 1040X and there is an area on that form to explain why you are changing your return (in her case, to correctly identify her son as qualifying). Good luck!
