Cause now I have an extra 1,200 in credit I don't deserve and that I will probably have to pay back
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You do not need to amend your return.
If you made a mistake in reporting the amount of stimulus received, the IRS will identify the error and adjust your refund.
Please read the answer to question E1 of this IRS Q & A and this TurboTax Help topic.
You do not need to amend your return.
If you made a mistake in reporting the amount of stimulus received, the IRS will identify the error and adjust your refund.
Please read the answer to question E1 of this IRS Q & A and this TurboTax Help topic.
Does this mean they will adjust this before I receive my deposit, or after? I am scared that I will not know how much I will randomly need to pay back?
@mk98 They should adjust your deposit to reconcile your stimulus payment reporting discrepancy, so normally you wouldn't have to pay anything back.
I accidentally did this for this year tax return. How long will it take for them to fix my error and send out my refund? I filed on feb 8th and it was received and accepted on that same day. My refund was supposed to come today March 1st but now on IRS website it says delayed beyond normal time frame.
@Jfire22 You made a mistake and said you did not receive the 3rd EIP payment? That will delay your refund. We cannot say how long the delay will be, but the IRS will find the mistake and fix it. If you accidentally put an amount on line 30, your refund will be reduced. Lots of people are making mistakes with this, and the IRS is cross checking for it.
As @xmasbaby0 stated, there is no timeframe given by the IRS. However, they have mentioned that there will be delays if the stimulus amounts are not entered correctly.
Additionally, there is no need to file an amended return since the IRS will adjust the refund amounts themselves and will send you the updated refund amount.
Yes I accidentally said I didnt receive 3rd stimulus because I thought it was in regards to a child tax which I didnt receive because I have no children; I was just confused at the framing of the question when I did indeed receive the 3rd economic payment. From what you're saying there's no time frame so it can be anywhere from a few days to a few months for the IRS to review and fix the mistake in which I can get my refund in the latter part of the year even though it has been accepted since feb 8th? Okay
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