Problem with stimulus listing on my tax form

We are working with the IRS regarding how to correct returns due to new implications of the American Rescue Plan, and the stimulus will be addressed as well.  Please refer to these articles:   

How will the third stimulus impact me? 

What if I already filed my 2020 taxes?

 

Here is a TurboTax article about the American Rescue Plan

 

Does this mean that I will get that $600 back?

 

Thanks.

The $600 in line thirty of form 1040 was the second stimulus payment of $600 that you were probably entitled to. 

 

The first stimulus amount was $1,200 for an individual and the second one was $600. If you received both of those payments, then you shouldn't receive another one when you filed your tax return, so the $600 should not have been on line 30.

 

If you didn't receive the $600 before you filed your tax return, then it should still be due you and you will probably get it later on.

 

You call the IRS at 1-800-919-9835 or use the following link to check on your stimulus payments:

 

https://www.irs.gov/coronavirus/get-my-payment

 

 

When filling out my tax return in TurboTax, I was asked if I received the $600 for each family member (and we had at the very end of 2019 - two adults and one child).

The IRS told me that because I had $600 in line 30, I would not get the $600. However, I did not put the $600 in line 30, TurboTax did.  I am not sure what I did to put the $600 in line 30. 

 

How can I get these funds returned to me? Do I need to file an amended return?

 

Thanks,

Jennifer

1. Whether the funds can be returned to you depends if you are eligible for them. First, check what you are eligible to receive: 

• In general, within the income limits, the taxpayer, spouse and all dependents under 17 would receive the first and second stimulus payments. 
  • The first stimulus payment for those eligible was $1,200 per taxpayer and spouse, and $500 per dependent as reported on the most recently filed tax return. 
  • The second stimulus payment for those eligible was $600 per taxpayer, spouse and dependent as reported on the most recently filed tax return.
• For more information, see: Recovery Rebate Credit — Topic B: Eligibility | Internal Revenue Service.

2. Since the Recovery Rebate Credit was included in the return, then the IRS will automatically make calculation corrections to what is posted to Form 1040, page 2, Line 30.

• It is unclear
  • how many dependents were claimed in 2020,
  • why the IRS recalculated your Credit, and
  • what the correct stimulus payment should be for your family. 
  • how the stimulus section in TurboTax was answered

Refiling the same return or only correcting the credit would lead to the same result without providing more details to the IRS. 

• Regarding whether an amended return is needed,
  • if you do not agree with the IRS calculations, before amending, contact the IRS first. See:  IRS Let Us Help You for other ways to contact them. Trying to reach them via the phone will be difficult this time of year.
  • Also, see the answer to Question 1: 2020 Recovery Rebate Credit — Topic G: Correcting issues after the 2020 tax return is filed | Internal Revenue Service to decide if you must amend.
• For more information on how to amend if you decide you must amend, see: How do I amend my 2020 TurboTax Online return?

@jrumford44