Will the IRS re-calculate stimulus payments?

Forum|Forum|5 years ago
March 27, 2021
1 reply
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We filed our 2020 tax return early in 2021. Already received our tax refund and some stimulus based on our AGI of ~158K. My wife was unemployed in 2020 and received $13,382 of unemployment income as reported on line 8 of the 1040 tax return. I see that the IRS rules recently changed and we may be eligible to subtract the $10,200 of unemployment income and this may reduce our AGI. Our corrected AGI should now be ~147K Do we now qualify for additional stimulus? Will the IRS correct or re-calculate stimulus based on our re-calculated or reduced AGI? I realize the IRS is very busy with all of these changes and it may take some time to resolve these issues.

Thanks in advance!

Best answer by KrisD15

Yes, the amount is 10,200 that is not taxable and yes, the IRS will adjust everything from the return you already filed, including increased stimulus and/or credit if applicable.

KrisD15Answer

Level 15

Yes, the amount is 10,200 that is not taxable and yes, the IRS will adjust everything from the return you already filed, including increased stimulus and/or credit if applicable.

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