As millions of Americans begin receiving their Economic Impact Payments (or “stimulus payments”) authorized by The Coronavirus Aid, Relief, and Economic Security Act, many of our clients are asking this question: What should they do if they receive a stimulus payment issued to a deceased family member?
While the IRS did not initially address this contingency when it began distributing stimulus payments based on 2018 and 2019 tax return information, recent guidelines have been published on the IRS’s website directing that such payments be returned, and providing instructions on the return process.
According to the guidelines, which can be found…
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