The IRS says that it will issue 9 out of 10 refunds to taxpayers in less than 21 days. However, if:
- You have e-filed your 2020 Federal tax return,
- You are claiming a Recovery Rebate Credit (RRC) on line 30 of the 2020 1040 tax return, and
- Your tax return has been accepted by the IRS.
We suspect that the IRS will scrutinize stimulus payments that were issued against the tax returns that claim the Recovery Rebate Credit. We do not know how much delay that the IRS will incur in such cases.
IRS live phone assistance is extremely limited at this time. For stimulus payment questions, call 800-919-9835.
Follow the TurboTax COVID Tax Center and the IRS Economic Impact Payment Information Center for further developments.
Third stimulus eligibility is based on your last tax return, either 2019 or 2020. This TurboTax Help states:
How Will I Get My Third Stimulus Check?
You don’t need to do anything to get your stimulus check. The IRS will determine eligibility based on your last tax return, either 2019 or 2020, and will likely send your payment to the bank account where your tax refund was deposited.
As part of the income tax filing, the IRS receives accurate banking information for all TurboTax filers who received a tax refund, which the IRS is able to use to quickly and effectively deposit stimulus payments.
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