Hello,
I accidentally filed as a dependent when I am not. I have been told that I have two options :
1) amend and let the IRS know you are NOT a dependent. Could take 16 weeks minimum for this to occur with no guidance from the IRS whether they will send out the stimulus immediately after processing the amendment. Maybe they will and maybe the won't.
2) wait until the 2020 tax return and resolve at that point. You'll know not to declare that someone else can claim you as a dependent 🙂
- The stimulus payments are really based on your 2020 tax return (income, dependents, etc).
- The IRS is using either 2018 or 2019 – whatever is available - to ESTIMATE that payment
- When you file next year there will be a “settle up” section on the tax return.
- If you are due more stimulus (and this would include where you simply never received it), you will receive it through the 2020 tax filing as an additional refund
- If you received too much stimulus (not the issue here), by law , you are not required to return it
Let's say that I decide to take the chance to amend my 2019 tax return and let the IRS know that I am NOT a dependent and... the IRS does NOT send me a stimulus check after processing the amendment for whatever reason.
Will I still be able to resolve my stimulus payment and receive my "settle up" stimulus payment on my 2020 Tax Return? Or will I not be eligible because I amended my 2019 tax return and missed the deadline.
