@GODYML We can't see your tax returns to know why. However, the $1,200 may be your stimulus payment. Review your Form 1040-SR and verify that Taxable interest is on line 2b.and the stimulus payment (Recovery Rebate Credit) is on Line 30.
If you entered the wrong interest amount and you e-filed your tax return, you won't be able to change it. It's like putting a letter in the mailbox. You can't retrieve it.
- You'll have to wait until the IRS accepts or rejects your return.
- The IRS has announced that they will begin accepting and processing 2020 individual tax returns on February 12, 2021.
If your return gets rejected, you'll be able to change it and submit the corrected return.
If your return gets accepted, you may need to amend your income tax return.
NOTE: At this time, you're not able to amend a 2020 income tax return. As of today, it's estimated that the IRS will finalize the 1040X form on 2/18/2021. However check the forms availability to see any updates to that date.
You can check the status of your Form 1040-X, Amended U.S. Individual Income Tax Return using the Where's My Amended Return? online tool or by calling the toll-free telephone number 866-464-2050 three weeks after you file your amended return.
Generally, Form 1040-X, Amended U.S. Individual Income Tax Return, must be filed within three years of the date the original return was filed, or within two years of the date the tax was paid, whichever is later.
[Edited 2/10/2021|1:19 pm PST]
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