2020 Stimulus Checks - Dependent Options

[Reisert1120]

Hi,

I recently graduated college in May of 2019, and I mistakenly filed as a dependent on my 2019 tax returns thinking that's what was required. To correct this issue, I understand that I can either a) file an amended tax return or b) wait until my 2020 tax filing to uncheck the dependent box and get the stimulus check in the form of a tax credit. In normal circumstances I would mail an amended tax return in, and receive the stimulus check. However, I've been hearing the IRS is overwhelmed with mail at the moment, and I'm afraid they'll never get to it or simply overlook it. My other issue is that I'm worried I won't get the stimulus check if I wait until 2020 because my 2019 Adj. Gross Income  was about ~$55,000, but my 2020 income will be greater than $100,000 (making me ineligible).  

Does anyone have any suggestions? Thanks in advance!

[AnnetteB6]

While it is true that the IRS is most likely overwhelmed with tax returns that have been mailed in because they announced they were no longer processing them, there is no reason to be in a rush to submit your amended return.  Stimulus payments will be made throughout the year, so you could give it some time and wait for the IRS to catch up a bit (after they start accepting mailed returns again) and then submit an amended return to try to qualify for the stimulus payment.

@Reisert1120

[Reisert1120]

That's very helpful, thanks so much for the reply!