Accidentally claiming recovery rebate

[VolvoGirl]

I don't know if you get penalty or interest but do not use the 1040ES estimate slip!  Use a 1040V voucher or go online and pay it.

Here is a blank 1040V

https://www.irs.gov/pub/irs-pdf/f1040v.pdf 

Or Pay the IRS directly at

Https://www.irs.gov/payments

[LycheeHI]

Thanks for explaining this! I've been so worried. I did the same thing.

What I'm wondering is, with my mistake, I was only getting a $200 refund. So when they correct this, does it mean that now I'm going to owe them $1200?? And is this going to affect my state taxes too. Since now my income will be different? 

[sm3131]

Just as an update to anyone still waiting- I wrongly claimed the rebate and submitted my return on Jan 27th. Finally today, Macrh 21st, the IRS website now says that they have corrected my return (minus the $1400) and I should receive a deposit by March 28th.

So for anyone that made the mistake- just give it time (I mean it took 2 months for them to correct mine) and DONT submit an amended return.

[Tasha651]

I did this too. Then I amended my return and now the IRS took $1400 from my checking. I owe $207 when I check my refund status on their website. So I shouldn’t have amended to try to fix it. Now I’m wondering how to get my $1400 back. My amended return says I’m getting $0. I paid the $207 on the IRS website. When I called Turbo told me there’s nothing I could really do. The IRS payment department told me it was too late to cancel the pending withdrawal. My bank was suggesting I let it process and get declined. I advanced money from my credit card to allow it to post. 

[ddmaximus4]

For those that accidentally claimed the recovery rebate and then owed taxes, does anyone know if then penalties applied?

[DoninGA]

---

@ddmaximus4 wrote:

For those that accidentally claimed the recovery rebate and then owed taxes, does anyone know if then penalties applied?

---

There are no penalties on the taxes owed if they are paid on or before April 18, 2022.

[LycheeHI]

I'm replying to myself 😂 Anyhow, the irs sent a bill to me for the 1200. They added the 1400 back into my income and taxed me on that. So don't amend! They will catch it and send you a bill if you owe. 

[Meirav C]

Thank you. I had the same thing happen to me, and got a notice that my return was adjusted but instead of just me owing the $1400 I owe about $3000. Does that make sense? does changing line 30 triggers other changes?

[VolvoGirl]

@Meirav C   No changing line 30 won't affect other things except to change your refund or tax due.  How much was on line 30?  What should it be?  Zero?  You must have already got the 3rd Stimulus payment but tried to claim it again.

[Meirav C]

Yes, I already got the third stimulus so I understand I would have to pay it back. line 30 said 1400. I am just wondering why my corrected return now says I owe not only the $1400 but more. Thank you!

[VolvoGirl]

What was the tax due or refund on your original return?  The adjusted amount is the new amount for the whole return.  So if you owe 3,000 now you must have owed 1600 on your return?  Or it could be for something else too.  Do you have any children?  Check line 28 for the Child Tax Credit.  

[Aces63020]

Did you ever get it? 

[Meirav C]

I figured it out!

So basically yes, I stated that I didn't get the $1400 (forgot) and then it was corrected and I now paid it, so it's all set.

Thank you for your help

[Aces63020]

About how long did it take you because I did the same thing lmao 

[Meirav C]

I filed my taxes on the first week of March and got the notice last week. I couldn't get them on the phone. So after freaking out a bit, I realized my mistake and realized why the number on the notice didn't make sense to me at first. Basically I paid my taxes (the number I got when filing) but the notice I got was sent before that payment was processed. Anyway, once I figured out all I owe was the $1400, I went into my account and paid it.