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Get your taxes done using TurboTax
If the IRS used your 2020 AGI and gave you the EIP#3 after you filed a 2020 return, you do not have to pay it back if your 2021 AGI is higher than your 2020 AGI. They were in a hurry to send out those checks, so lots of people got those checks after the IRS processed their 2020 returns. So.....if you happened to have a lower AGI in 2020, got the money, and had a higher income in 2021---you got lucky and get to keep the money.
But the 3rd EIP payment is really based on your 2021 income. So if you are trying to get it as a recovery rebate credit, you have to meet the income criteria on your 2021 tax return. If a single filer made more than $80K in 2021 they do not get the credit.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
‎January 9, 2022
9:29 AM