My income dropped over the year and I have already filed 2020 taxes. It appears they are not using this tax yr for the Stim check. I qualify 2020. what can I do?

[DanaB27]

You do not have to do anything to receive the third stimulus payment since you have already filed your 2020 tax return. Please see How will the third stimulus impact me? for additional information.

If you qualify for the Recovery Rebate Credit in 2020 but have not claimed the Recovery Rebate credit on line 30 of Form 1040 then you will have to file an amended tax return (1040X) after your original return has been processed. You can e-file your 2020 amended federal tax return. Please see FAQ How to amend a tax return for instructions.

To be eligible for the credit you need to be a U.S. citizen or U.S. resident alien in 2020 and have a Social Security number that is valid for employment.

You cannot be claimed as a dependent by someone else to be eligible. 

Your credit amount will be reduced if your 2020 adjusted gross income (AGI) is more than: 

• $150,000 if married and filing a joint return or filing as a qualifying widow or widower
• $112,500 if filing as head of household or
• $75,000 for eligible individuals filing as a single or as married filing separately.  

Your payment will be reduced by 5% of the amount by which your AGI exceeds the applicable threshold above. (IRS FAQ Recovery Rebate Credit )

To claim the credit in TurboTax, please follow these steps:

1. Log into TurboTax.
2. After entering all your information click "Federal Review" at the top of your screen. 
3. On the screen "Let's make sure you got the right stimulus amount" click "Continue".
4. You will be asked about the amounts of first round and second round stimulus payments you received.  If you did not receive a payment enter "0".
5. TurboTax will then calculate the amount of stimulus payment remaining that you are still entitled to get. 
6. Any stimulus amount remaining due to you will show as a credit on line 30 of the 1040.

[leadfootrn20]

Thank you. I am completely aware of this information. However, the IRS is using my 2019 tax return to base my eligibility for the 3rd stimulus. Even though I filed my 2020 tax return early 2/20/21!!! I made more money in 2019. My 2020 return is 25k-30k less which qualifies me for the full 3rd stimulus. Which I won’t get because they’re using the wrong yr. 

[JotikaT2 · Accepted solution]

Once your 2020 income tax return is processed, you should be issued a 3rd stimulus payment if you qualify.  Guidance has not been issued as to how the IRS will issue payments if they used your 2019 tax return when your account was selected for processing the 3rd stimulus.  

I recommend check the link below for updates as the IRS frequently updates their guidelines and recommendations for situations, such as yours, that arise.

FAQs for Stimulus payments

[NCperson]

by law the IRS was to use the 2020 tax return and if that wasn't available it was to use 2019. But understand that was just an ESTIMATE against the 2021 tax year.  I would not assume that once you submit 2020 you will get the stimulus payment; that is not how it works. 

What you are ACTUALLY due is based on 2021 tax year.  If you income is low enough to qualify based on 2021 income you will receive that as a 'recovery credit' on Line 30 of the 2021 tax return. 

that is the way the first two stimulus payments worked (but 2020 was the 'actual' and 2018 / 2019 were estimates only)

if the ACTUAL is more than the ESTIMATE, you get the difference on Line 30

if the ESTIMATE is more than the ACTUAL, you do no have to pay it back - that is the way the law was passed. 

[leadfootrn20]

We shall see. There are so many caveats to this round of stimulus that wasn’t involved in the last. I received the first one direct deposit. The second was to come by debit card, never received it. This one I could really use but I am seriously doubting I’ll see that either. Will update as I get more information. As it stands, my 2020 return has been received, but not processed yet. According to the site. In the past using Turbo Tax it’s never taken more than a week or two at best before I get the “processed” notification. I understand this is a different time, but it’s frustrating none the less. I hope everyone stays safe and this years gets better as we move through it.