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andrei-litvinov
New Member

I submitted the Turbofax form checking 'I did not receive the second stimulus'. Now the 'economic impact payment card' arrived. Should I submit the form again?

Should I avoid activating the card?
 Can the card expire before the third stimulus if not activated?
1 Best answer

Accepted Solutions
AmyC
Employee Tax Expert

I submitted the Turbofax form checking 'I did not receive the second stimulus'. Now the 'economic impact payment card' arrived. Should I submit the form again?

@snoman We are not sure what the IRS is doing. We are hoping that they will catch that in a cross check before they send payment. If you do get the stimulus a second time, you will need to amend and repay.

 

Once your return is accepted and the finances are settled, you can file an amended return. 

  • Save a copy of the original return before doing an amended return. See: 
  • Pay additional tax. Taxpayers who will owe more tax should file Form 1040-X and pay the tax as soon as possible to avoid penalties and interest. They should consider using IRS Direct Pay to pay any tax directly from a checking or savings account for free.
  • Track amended return status online. Taxpayers can track the status of their amended tax return in English and Spanish using Where’s My Amended Return?  Amended returns take up to 16 weeks to process and up to three weeks from the date of mailing to show up in the system.
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3 Replies
AmyC
Employee Tax Expert

I submitted the Turbofax form checking 'I did not receive the second stimulus'. Now the 'economic impact payment card' arrived. Should I submit the form again?

The IRS does not open until February 12 to begin processing returns. Once they open, they have 48 hours to accept or reject a return. When you file your return, you're really submitting it to the IRS for processing. The IRS will process your credit as part of their overall tax return filing process. This includes cross-checking the total stimulus amount you entered with their records to make sure the numbers match. If there are inconsistencies, it could create delays and result in you having to file an amended return.

  • If your return is accepted, you will need to amend.
  • If your return is rejected, you can correct your mistake and file again.

You may as well activate the card. If you do it fast enough, maybe you will get lucky and your return will be rejected.

We have not been informed of the rules and third stimulus in relation to the card.

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snoman
Returning Member

I submitted the Turbofax form checking 'I did not receive the second stimulus'. Now the 'economic impact payment card' arrived. Should I submit the form again?

How do I am in my 2020 tax return after I've submitted it to IRS and it has been accepted

 

AmyC
Employee Tax Expert

I submitted the Turbofax form checking 'I did not receive the second stimulus'. Now the 'economic impact payment card' arrived. Should I submit the form again?

@snoman We are not sure what the IRS is doing. We are hoping that they will catch that in a cross check before they send payment. If you do get the stimulus a second time, you will need to amend and repay.

 

Once your return is accepted and the finances are settled, you can file an amended return. 

  • Save a copy of the original return before doing an amended return. See: 
  • Pay additional tax. Taxpayers who will owe more tax should file Form 1040-X and pay the tax as soon as possible to avoid penalties and interest. They should consider using IRS Direct Pay to pay any tax directly from a checking or savings account for free.
  • Track amended return status online. Taxpayers can track the status of their amended tax return in English and Spanish using Where’s My Amended Return?  Amended returns take up to 16 weeks to process and up to three weeks from the date of mailing to show up in the system.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

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