Do I amend my 2020 Tax Return

[Karmajo]

We received a notice from IRS that we would be receiving $1,200.00 for the 3rd stimulus check.  Based on our 2019 Tax Return (amount and filing status) we should get the full amount of $2,800. Do we need to amend our 2020 Tax Return to be able to receive the remaining stimulus money?

[SweetieJean]

Wait for the letter from the IRS that explains why they reduced it.  They may have used your 2020 return (not 2019) in making their determination.

[ErnieS0]

No. The third stimulus is based on your 2020 filing information, not 2019. Is $1,200 the correct amount of stimulus based on your 2020 information? And was your 2020 return accepted?

The IRS has said it will update the third stimulus amounts when it receives 2020 information. However the IRS has not said how this will be done, when it will be done or what is the procedure for correcting any incorrect third stimulus amounts.

[Karmajo]

Thank you for your reply. The letter said EIP2 was based on our 2019 income tax return.  If they used our 2020 return then the amount is a little closer to what we figured we would get. Thanks again.

[Karmajo]

Thank you. Yes, they may have used our 2020 return since we have already filed and it was accepted, however, the letter we got stated that our EIP2 was based on 2019.