DMarkM1
Employee Tax Expert

State tax filing

According to the current IRS guidelines the answer is "Yes".  If you file a 2020 tax return as a US citizen with a valid social security number and with income under $75,000 and cannot be claimed on someone else's 2020 tax return, you will be eligible for the Recovery Rebate Credit on your tax return.  That credit will be reduced by any payments received in rounds one and/or two.  If you didn't receive any payments then you would get the full credit (1200 and 600).  

 

Here is a link with more information.

 

TurboTax will populate all the forms necessary for the credit based on your tax return entries.  

 

The third round of stimulus payments is separate from your tax return/refund.  Once the IRS processes your 2020 tax return they will send the third round stimulus payment (1400) separately.  There is nothing to do for that one except file your 2020 return.

 

For the latest on the third round go here.

 

 

 

 

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