The Recovery Rebate Credit is a credit that was authorized by the Coronavirus Aid, Relief, and Economic Security (CARES) Act. So, if you were eligible for an Economic Impact payment, commonly referred to as a stimulus payment, but did not receive one or you received less than the full amount as an advanced payment in 2020 then you can claim the Recovery Rebate Credit on your 2020 tax return. Generally, the credit can increase your refund amount or lower the taxes you may owe.
For more information, see: What is a Recovery Rebate Tax Credit?
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