I forgot that I received a third stimulus and selected "no" by mistake. Should I fill out a 1040-X or will the IRS catch it?

[mlgospodinoff]

I don't want to be penalized. I didn't see the deposit in my checking because it was sent to my savings account and I overlooked it. My Refund was already approved so I'm not sure what to do from here to correct it.

[VolvoGirl]

Just wait.  The IRS knows they sent you the 1,400 and will automatically take it off your return line 30.  It will probably delay your refund or turn it into a tax due.  

[DoninGA]

The IRS may catch it and adjust your tax return by adding the $1,400 stimulus payment to the return.

The IRS has Accepted your tax return.  Approved is another step in the IRS procedure.

After the tax return has been Accepted by the IRS (meaning only that they received the return) it will be in the Processing mode until the tax refund has been Approved and then an Issue Date will be available on the IRS website.

If the IRS does not adjust your tax return you will have to amend the return.

An amended return, Form 1040-X, can only be printed and mailed to the IRS if the original tax return was not e-filed. The IRS will take up to 16 weeks or longer to process an amended tax return.

Before starting to amend the tax return, wait for the tax refund to be received or the taxes due to be paid and processed by the IRS.

The federal amended tax return, Form 1040-X. for tax year 2021 will not be available in TurboTax until the estimated date of 02/24/2022