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After you file
If there were any mistakes on the stimulus payment section, the IRS will recalculate the Recovery Rebate Credit. and there will be a slight delay in processing your return. But, you will not need to do anything else.
- From the IRS: 2020 Recovery Rebate Credit — Topic G: Correcting issues after the 2020 tax return is filed
- DO NOT file an amended tax return with the IRS. If you entered an amount on line 30 but made a mistake in calculating the amount, the IRS will calculate the correct amount of the Recovery Rebate Credit, make the correction to your tax return and continue processing your return. If a correction is needed, there may be a slight delay in processing your return and the IRS will send you a notice explaining any change made.
To check the status of your refund from your original return, check Where's My Refund?
- DO NOT file an amended tax return with the IRS. If you entered an amount on line 30 but made a mistake in calculating the amount, the IRS will calculate the correct amount of the Recovery Rebate Credit, make the correction to your tax return and continue processing your return. If a correction is needed, there may be a slight delay in processing your return and the IRS will send you a notice explaining any change made.
The first stimulus payment maximum was $1,200 for a taxpayer and $500 for every qualifying dependent under age 17 whom you financially support.
The second stimulus payment maximum was $600 for each taxpayer and qualifying dependent under age 17 who you financially support.
For more information, see: What does "financially support another person" mean?
March 9, 2021
5:34 AM
1,324 Views