It's not so easy, reinventing the wheel, and having it roll out smoothly, in 2 weeks.

The only statements that matter are the ones the IRS put out as Guidance, the rest are wishful thinking or somebody's best guess based on somebody else's best guess.

I don't know about "holding their hand out" as a accurate description of recovering payments made to an individual who was not entitled to the payment.

I my experience, most people receiving excess EIP $$ know they are being paid too much and are asking how to pay it back or quietly hoping the IRS doesn't notice. Based on an the post, obviously they will offset 2019 refunds to recover the EIP and it is our obligation to make sure clients understand that possibility. It's a better option than reversing the direct deposit and recovering the EIP from individuals who already spent the $$, which would really create a banking nightmare and true hardship on the taxpayer.

Why would they want payback on a dependent for 2018 or 2019 that is not on the 2020 return?Dependent EIP $$ was paid for children 0 -16 years old, so chances are they will still be a dependent in 2020, not that it will matter, in my view.

My concerns, as far as dependents 0-16, are all the baby daddys or mommys, that received the $500 because the court decree gave them the right to claim a dependent child for tax purposes. The actual Custodial parent received nothing and in reality are providing the home and support for the child. That should be a fun fix or court case.

Dependents 17-23 were the real people left out of the EIP plan and provisions are being made on the 2020 tax return to compensate them, if eligible.

It is a mess and will be for sometime to come, but it's the IRS, when has it ever been easy or agreeable.