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I'm confused about an error on 2020 taxes? Has a 2020 Federal 1040 tax return been filed and accepted? Filed and rejected? Not filed? Please clarify.
This TurboTax Help says the IRS will refer to 2019 and 2020 tax returns. This American Rescue Plan states:
Third Stimulus Payments for Individuals and Joint Taxpayers
Those eligible will get up to $1,400 in stimulus payments for each taxpayer in their family plus an additional $1,400 per dependent. This means a family with two children could receive $5,600.
Unlike previous stimulus payments, this round all dependents, including adult dependents and college students are eligible for stimulus checks.
Although you may want to file your 2020 return now in order to provide your most recent information to the IRS, including bank account information, 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.
We just do not know all the details at this time.
We do not have all the specific information from the IRS for the tax changes including a third stimulus payment because the measure has been passed by both houses of Congress but not yet signed into law by the President.
IRS information updates can be found here. TurboTax information updates can be found here.
The IRS said it's an error and could be related to early filers that used turbo tax. I'm just wondering if they'll use my direct deposit info from accepted 2020 return to send the 3rd stimulas because I'll probably get that now before I'll get my 2020 refund
My family needs my refund and 2nd and 3rd stimulas. I can't have any more bullsh*t when it comes to money! So I'm trying to get as much information as I can to make sure this goes like it's supposed too!!!
Good for you that your tax return has been accepted!
According to the TurboTax Help for the American Rescue Plan, we believe that the IRS will use the tax information and bank account information from an accepted 2020 tax return.
The IRS says that it will issue 9 out of 10 refunds to taxpayers in less than 21 days. However, if:
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. Implementation of the American Rescue Plan will further strain the resources of the IRS.
IRS live phone assistance is extremely limited at this time. For stimulus payment questions, call 800-919-9835.
Hope that doesn't hold up me atleast getting this 3rd stimulas
There is no way to ensure that the IRS uses your recently filed 2020 Federal 1040 tax return. At this point, we do not have information about how long it will take the IRS to update tax return information.
Filing the 2020 Federal 1040 tax return is the only procedure to update your dependent information, mailing address information and checking account information.
However, we do not know whether the information from your 2020 Federal 1040 tax return will have time to be updated before a third stimulus payment is sent out within the next few days.
This TurboTax Help states:
The IRS began issuing the first batch of stimulus payments, and they could arrive as early as this weekend (March 13-14), with more arriving over the coming week. Further batches of payments will arrive during the following weeks. If you’re eligible, check the status of your stimulus payment and the way it’ll be sent to you by going to the IRS Get My Payment Tool, which will be live on March 15th.
This TurboTax Help was recently released. Review for more current information.
Well I never filed for 2019 was a zero filer for that year. I started the return on turbo tax. Can you help me finish that one and get it in with my direct deposit information? I NEED to make sure I get this 3rd stimulas!!!
My 2020 return has been accepted but I'm on of the unlucky ones that has an irs error. And I was a zero filer for 2019 and would like to finish that return to make sure it's has my deposit info for stimulus just as a back up precautions.
This is why I pay YOU guys to do my taxes, I filed early like YOU and IRS said to do now I have an error and nobody can tell me ANYTHING!!! Now I have to wait 10+ weeks for my 2020 return and I'm probably going to miss out on the 3rd stimulas just like I didn't get the 2nd one!!! I don't even know why I pay you people!!!!
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