Stimulus

[jnic103]

If my 2020 tax return was rejected and I am still in the process of fixing it will my 2019 tax return AGI be used to calculate my stimulus check?

[ErnieS0]

No. The IRS is no longer sending out first and second stimulus checks. Any missing stimulus amounts will be added to your 2020 tax return as a Recovery Rebate Credit. In other words, you will not get your stimulus unless you file your 2020 income tax return.

[jnic103]

@ErnieS0 

I have already received my first and second stimulus check. I am talking about the third stimulus check that I am assuming will be passed soon. 

[ErnieS0]

Yes. Under the current version of the bill, Congress has directed the IRS to use 2019 income if you have not filed a 2020 income tax return (or if it has not been accepted, which is considered not filed).

If, at the time of any determination made pursuant to paragraph (3), the individual referred to in paragraph (1) has filed a return of tax for the individual’s first taxable year beginning in 2020, paragraph (1) shall be applied with respect to such individual by substituting ‘2020’ for ‘2019’.

[jnic103]

@ErnieS0  

Thank you for that information! To be honest I'm actually very happy to hear this. I made 74k in 2019 and 77k in 2020 so the rejected return will turn out to be a blessing in disguise. With having 1 dependent it's the difference of probably around $1700.