Stimulus Payment

lyns1212 — Sat, 06 Feb 2021 20:57:20 GMT

According to my 2019 income taxes, I would not have qualified for a stimulus payments, however, when I completed my 2020 income taxes, it says I do and that I'm due that money in the form of a tax credit. Is this correct? Thank you!

Re: Stimulus Payment

LenaH — Sat, 06 Feb 2021 21:20:14 GMT

Yes, if your situation changed in 2020 and your income decreased, you may now be eligible for the Recovery Rebate Credit.

Per the IRS, your Recovery Rebate Credit amount will be phased out if your adjusted gross income for 2020 exceeds $150,000 if you are married filing a joint return or filing as a qualifying widow or widower, $112,500 if you are using the head of household filing status, or $75,000 if you are using any other filing status.

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Stimulus Payment

Re: Stimulus Payment