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  • Mila Yazykova

Economic Impact Payment FAQs

Updated: Jun 27

Many people have already received their Economic Impact Payment, and many more will be getting them soon. Whether it’s already there or on the way, the payment brings questions from many people.

Anyone who has questions can visit IRS.gov for updated FAQs about the Economic Impact Payment. Here are a few of the questions the IRS continues to hear.

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.

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