@Palowe78 - so we have to figure out what question was answered incorrectly so that you can amend the return. Can you open up TT and determine what went wrong?
you would have to file an amendment, more so to get the tax credits you may be due. the Child Tax Credit is worth up to $2000 while the "other dependent" is worth up to $500. However, depending on your specific tax situation it may not change the amount of the refund.
the amendment will take a minimum of 16 weeks for the IRS to process and they have provided by guidance whether they will send out the stimulus check immediately after processing the amendment. Maybe they will and maybe they won't.
The saving grace for the stimulus is your 2020 tax return next year. here is why:
- The stimulus payments are really based on your 2020 tax return (income, dependents, etc) and I am confident you'll look for that check mark next year 🙂 .
- The IRS is using either 2018 or 2019 – whatever is available - to ESTIMATE that payment
- When you file next year there will be a “settle up” section on the tax return.
- If you are due more stimulus (and this would include where a dependent was missed), you will receive it through the 2020 tax filing as an additional refund
- If you received too much stimulus (not the issue here), by law , you are not required to return it
does that help? post back if more questions.
