@charandy - let me explain why I think you are frustrated... here is how the law works:
- for the 1st two stimulus payments, there were 'advanced payments for the 2020' tax return. What that means is Congress added to your payments on your 2020 tax return to cover your taxes! But when the law was passed earlier in 2020, obviously, the results of your 2020 tax return in terms of income, dependents, marital status was not known. So Congress instructed the IRS to use the 2019 tax return (and 2018 if that wasn't available) to ESTIMATE what you were due and give you that amount.
- Then the IRS is using the 2020 tax return to determine the ACTUAL amount you are due.
- if the ACTUAL is greater than the ESTIMATE that difference is given to you as a 'recovery credit' on Line 30.
- if the ESTIMATE is greater than the ACTUAL, you are given no more, and you are not required to pay back the difference. Line 30 is zero and cannot be negative.
does that make sense and clear up any confusion? Please post back!
