Taxes and stimulus

[Keishawn07]

I filed my taxes on January 12th, I put that I had not gotten my second stimulus yet but on January 28th I got my stimulus. What will happen with that and will my federal taxes be rejected?

[xmasbaby0]

You cannot make changes to a return that is in pending or to a return that has just been accepted.  

We do not know if entering the wrong stimulus amount will delay your refund --- or for how long if it does.   The IRS has not offered any guidance yet on how they will handle returns that have incorrect stimulus amounts entered.  We all just have to wait and see.  You are among many people  who were confused and entered incorrect stimulus amounts, or who filed early and then received a check.   

[KathrynG3]

The IRS has not issued clear guidance whether they will be automatically adjusting returns as submitted. More guidance is expected in the next few weeks. 

Potentially, if the IRS does not automatically adjust the amount, you would have to amend. Amending 2020 electronically is available until Tax Year 2021 software is released. Otherwise, paper filing is available.

The forms needed to amend will not be ready until much later. Check here for the most recent updates: IRS forms availability table.

Once the return is accepted, if you wish to begin amending the return, follow these steps after

the forms are officially available for filing:

• With your tax return open after having filed the return, you will be at Tax Home. 
• Scroll down to Your tax returns & documents and Show.
• Select Amend(change) my return and follow the prompts. 

For more details, see: How do I amend my 2020 TurboTax Online return?

[Keishawn07]

Can they approve my federal taxes return and I can pay the stimulus back?

[DanaB27]

You can check if your return has been accepted by the IRS when you log into TurboTax. Please see How do I check my e-file status? for instructions.

Yes, if the IRS doesn't adjust the amount automatically then you will need to amend your return (1040X) and send the funds back to the IRS. But you will have to wait and see if you receive your refund that includes the additional credit.  Please see IRS Recovery Rebate Credit Q D2 What happens if I claim the incorrect amount? for additional information.

Please see  FAQ How to amend a tax return for instructions.
 

Please see the links below when Form 1040X is available:

• IRS forms availability table for TurboTax individual (personal) tax products