@jriggs1124
Stimulus payments are not taxable income to you so you won't be taxed on the amount received.
- See the information in the last paragraph on how to update your 2020 income tax return even if you've already e-filed it.
At TurboTax, we are committed to helping you file an accurate tax return and get your maximum refund. As a part of our continuing efforts to get your stimulus payment we noticed that you claimed the Recovery Rebate Credit when you filed your 2020 tax return.
The Recovery Rebate Credit is the way people who were eligible for a stimulus payment, but did not receive one or received less than the amount they were due, claim their stimulus payment. However, if you have already received the full amount of your stimulus payment and also claim the Recovery Rebate Credit on your return, this will trigger a review at the IRS that could delay the time it takes to process your return and for you to receive your tax refund.
We know how important these funds are and don’t want you to experience any delay in receiving your tax refund. Since the IRS has not opened yet, we would like to give you the opportunity to review and update the Recovery Rebate Credit portion of your 2020 tax return before they open on February 12th.
If you want to review and update your 2020 return, please enter your information here by February 6, to have your 2020 tax return sent back to you. You will then receive an email from TurboTax on February 8, letting you know that your return is available and providing you with detailed instructions on how to review, update and re-file your tax return without the Recovery Rebate Credit.
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