SusanY1
Employee Tax Expert

Deductions & credits

The IRS has already started calculating payments, and it may be too late to update yours for this year.  However, if your 2020 income allows you to claim a greater amount, you can do so as a credit on your tax return when you file that one. 

 

Filing 2019 as soon as possible (electronically) would give the best chance to update the advance payment received, but there is no guarantee that it would update it for you.  If you file by mail, I would venture a guess that you will have to apply for any discrepancy as a credit in 2020 as the IRS is not currently processing paper returns and I would imagine it would not be processed before your payment is already sent out to you. 

 

@lfbrennan

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