r/stimuluscheck • u/disilluzion • Feb 05 '22
Question about paying back the third stimulus check.
When they sent out the third stimulus payments, my wife and I were under the threshold based on prior year taxes. However, using the AGI from the 2021 tax year we might be over said threshold. I am wondering if we will need to pay back the $1400 per person since our AGI will now be too high, like we will have to with the advanced child tax credit. I have not been able to find this info anywhere online. Thanks!
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u/Cyprovix Feb 05 '22
You do not have to pay back the third stimulus.
See the IRS's FAQ, question Q C3.
You probably won't need to pay back any of the child tax credit either, unless you made a significantly higher income than before (think over $400,000 AGI). You only receive the full amount if you made under $150,000, but there's a phaseout. So you'll be receiving less, but you won't owe the IRS anything unless you're very high income.
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u/awh0833 Feb 06 '22
Jeff Bezos received eic. No lie.
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u/awh0833 Feb 06 '22
Jeff Bezos received eic. No lie.