It certainly sounds like a second stimulus of $600.
Are you saying that you received a second stimulus payment in January? Did you also claim a Recovery Rebate Credit (RRC) on line 30 of your 2020 1040 tax return?
If so, the IRS may have reduced your 2020 1040 tax return by the amount of the second stimulus check that you received in January.
At this time, we do not know what procedure the IRS will follow to notify taxpayers if they make such changes to 2020 tax returns whether the change is for this reason or some other reason such as a tax offset or an entry error.
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.
Follow the TurboTax COVID Tax Center and the IRS Economic Impact Payment Information Center for further developments.
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