If you have e-filed your 2020 Federal tax return and the tax return is rejected by the IRS, you will have the opportunity to correct the entries and calculations to generate the Rebate Recovery Credit as well as correct the entries that generated the rejection.
If you have e-filed your 2020 Federal tax return and the tax return is accepted by the IRS, we will see what approach the IRS takes in this situation.
I suspect that the IRS will scrutinize stimulus payments that were issued against the tax returns that claim the Rebate Recovery Credit. The IRS may be able to correct your tax return and your refund much like it corrects tax returns and refunds which misstate Federal withholding tax.
Follow the TurboTax COVID Tax Center and the IRS Economic Impact Payment Information Center for further developments.
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