I filed electronically on March 30; on December 21 the Taxpayer Advocate Service confirmed it had been received but not yet processed. How will this impact the likelihood of receiving $1,200 in the near future?
(I had to take out a loan to make up for the amount I've been owed since March; I really could use the $1,200 now).
the IRS is not sending out the 1st stimulus check anymore... HOWEVER, there is a 'settle up' section on the 2020 tax return and you will receive the stimulus, if you are eligible, as an additional tax refund. Same will occur with the 2nd stimulus payment.
My question was about the 2nd payment. How long will I have to wait? Since I assume I won't be getting the second one, I would like to file as early as possible and try to get it through the 'settle up' mechanism.
DO NOT RUSH TO FILE
. You want to be sure that the software is updated to reflect the 2nd stimulus 'settle up' That will take time (and hopefully by the time the normal filing window opens at the end of January). The IRS hasn't even published the changes that have to be programmed yet! You want to be sure that total stimulus you are due is correctly displayed onLine 30
of Form 1040 before filing and that will save even more months of IRS headaches
The 'settle up' is part of the 2020 tax return; it is not separate.