If I've filed for 2020 and qualify for the 3rd stimulus, does my 2020 return need to be PROCESSED by the IRS or just accepted in order to get the direct payment?

[bigcoach92]

Because everyone is recommending filing for 2020 immediately if your AGI was lower in 2020, in order to get the 3rd stimulus, but nobody has said whether the IRS has to actually approve (process) your return first or whether it's enough to just e-file and have it accepted. The IRS seems to be taking an unusually long time this year to process returns. I can't find the answer to this question anywhere, thanks!

[xmasbaby0]

The third stimulus bill is still being debated in the Senate.  Nothing has passed.  We do not know what changes will be made or when they will pass the bill, when or how it will be implemented.  When the third stimulus is actually passed and we have facts, TurboTax will follow all the guidelines.

[bigcoach92]

Of course I understand the 3rd stimulus hasn't been passed. That wasn't my question. I'm asking with the assumption it will be in its current state. Last year the IRS sent out the first stimulus based upon 2018 or 2019 tax returns. Given the situation might be similar for the 3rd stimulus where we're in the middle of tax season (using 2019 or 2020 tax returns) I was hoping someone might know how the IRS did it last year. 

[fanfare]

your EIP2 eligibility was based on your EIP1 eligibility

your EIP3 eligibility will be based on your EIP1 eligibility if you don't file 2020 tax return.

If your 2020 return makes you ineligible, don't file !

Once the payment is in your hands, by law IRS cannot ask for it back.

Unless the progressives go crazy, the EIP3 will be sent out well before April 15.