I have already filed my 2020 taxes and just realized I didn't receive my second stimulus payment. I received a letter saying it was deposited in my account, but I have no record of it on my bank statement. Can I re-file my taxes to receive the credit?
If you have e-filed your 2020 Federal tax return and the tax return is accepted by the IRS, you will have to amend your 2020 Federal tax return and correct the entries and calculations to receive the Recovery Rebate Credit.
Forms availability states that the amended tax return will be available March 25.
If you have not received one or more of your stimulus checks, you will receive your payment in the form of a Recovery Rebate Credit on line 30 of your 2020 Federal tax return when you file.
TurboTax will compare your one or two stimulus payment amounts to the computations within TurboTax. The computations within TurboTax are based upon the information that you have entered into the tax software. If you are due an additional amount, it will be issued as a Recovery Rebate Credit (RRC) on line 30 of the 2020 1040 tax return.
In TurboTax Online, you are prompted to input stimulus check 1 and stimulus check 2 information under Review down the left hand side of the screen.
You can access your stimulus check choices by following these steps:
You are welcome!
At this time, the 2020 Federal 1040 income tax return is the only method of receiving one of the first two missed or incorrect stimulus payments.
A potential third stimulus payment may be passed in Washington. Have no idea how that legislation (if it is ever passed) may affect things.
Keep in touch with the TurboTax COVID Tax Center and the IRS Economic Impact Payment Information Center.