Good for you that your tax return has been accepted!
According to the TurboTax Help for the American Rescue Plan, we believe that the IRS will use the tax information and bank account information from an accepted 2020 tax return.
The IRS says that it will issue 9 out of 10 refunds to taxpayers in less than 21 days. However, if:
- You have e-filed your 2020 Federal tax return,
- You are claiming a Recovery Rebate Credit (RRC) on line 30 of the 2020 1040 tax return, and
- Your tax return has been accepted by the IRS.
We suspect that the IRS will scrutinize stimulus payments that were issued against the tax returns that claim the Recovery Rebate Credit.
We do not know how much delay that the IRS will incur in such cases. Implementation of the American Rescue Plan will further strain the resources of the IRS.
IRS live phone assistance is extremely limited at this time. For stimulus payment questions, call 800-919-9835.
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