Mistake on Rebate Recovery credit

I accidentally put down I received $1,200 for both stimulus payments on the rebate recovery credit (line 30) when filing. When checking my bank statement I noticed that I actually received $1,700 for the first round of payments and not $1,200. I’m to get $500 extra back because of this error, when I’m fact I shouldn’t. Will the irs fix this mistake automatically or do I need to file an amended return.

166

Expert Alumni

Feb 14, 2021 6:43:25 AM

You do not need to amend your tax returns at this time. The IRS may catch the error and notify you of the correction. The IRS has not published guidance on how they will handle misstatements of stimulus payments on the 2020 tax returns. Due to the timing of the payments and the tax filing season this is a common experience.

Here is a link to monitor for updates on the Recovery Rebate Credit.

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Mistake on Rebate Recovery credit