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Do NOT destroy the check. Deposit the check.
MY RETURN IS IN PENDING—what does that mean?
Did you e-file? Did you click that big orange button that said “Transmit my returns now?” If so, your return is now in “pending” on a server. Do not try to change anything while your return is in pending. If your return is rejected you will be able to make corrections before re-filing.
The IRS will not be accepting/rejecting 2020 returns until Friday, February 12, 2021. You need to watch your emails for the acceptance/rejection notice that may take until mid-February or later to arrive. And watch your spam folder too.
When you e-file your federal return you will receive two emails from TurboTax. The first one will say that your return was submitted. The second email will tell you if your federal return was accepted or rejected. If you e-filed a state return, there will be a third email to tell you if the state accepted or rejected your state return.
A state return cannot be accepted until the federal return has 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.
My return was accepted, as of a little bit ago. I will be getting the $600 in my return.
@telemudcat wrote:I will be getting the $600 in my return.
You probably won't. The IRS treats this as a math error, which hypothetically means they will automatically adjust your refund to be $600 less than what your tax return shows.
As was noted above, it is uncertain if your refund will be delayed or not.
@telemudcat wrote:
My return was accepted, as of a little bit ago. I will be getting the $600 in my return.
We actually don't know what the IRS will do, although you have ruled out one of the three possibilities (rejection). The other two possibilities are,
1. The IRS corrects the error and reduces your refund. This is what I think should happen, but if so, it will likely delay your refund.
2. The IRS pays the full claimed refund, then bills you later for a return of the excess.
So don't destroy the check, but don't spend it, either. Deposit it and save the money, or keep the check in safe place until the situation becomes more clear.
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