ErnieS0
Expert Alumni

Deductions & credits

The third stimulus payment is based on 2020. If you filed a complete and accurate 2020 income tax return, then there is nothing you can do to change your stimulus amount. There’s really no way to “take back” your 2020 return.

 

The third stimulus will be reconciled with the filing of the 2021 return.

 

You are correct that some ineligible taxpayers will receive a third payment they are not entitled to because they have not filed their return. The same thing happened last year as the IRS used prior year information to send out the payments.

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