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Level 2

Solved

Economic impact statement dated 2021

Forum|Forum|5 years ago
March 16, 2021
1 reply
2 views

I don't think it matters to my question, but I am an American citizen with a tax residence in Japan.

The only payment I received was from the former president, and the check was dated January 6, 2021.
I assumed that since the check was dated and received in 2021 it had no effect on my 2020 return, but it occurred to me (after I filed, of course) that I might be wrong.

Should I have declared that I received a $600 stimulus when filling out my 2020 return?
Or was I correct in assuming that a check dated 2021 has no effect on my 2020 return?
And if I should have declared it, should I file an amended return or just settle it later if I get flagged for an error?

Thanks for your time.

Edward Lipsett

Best answer by ee-ea

Should I have declared that I received a $600 stimulus when filling out my 2020 return?

Yes

Or was I correct in assuming that a check dated 2021 has no effect on my 2020 return?

You were wrong

And if I should have declared it, should I file an amended return

Do not amend

or just settle it later if I get flagged for an error?

It is not if but when

Answer

Alumni - Champ

Should I have declared that I received a $600 stimulus when filling out my 2020 return?

Yes

Or was I correct in assuming that a check dated 2021 has no effect on my 2020 return?

You were wrong

And if I should have declared it, should I file an amended return

Do not amend

or just settle it later if I get flagged for an error?

It is not if but when

Level 2

Thank you; very clear answers.
You're marked "Level 12" which presumably means you've answered a lot of queries over the years.
May I ask if you are a tax professional, or merely a well-versed layperson?

It doesn't affect the taxes I owe for 2020, but it apparently will affect the amount of the next stimulus check I receive. If I can just let it ride and fix it later, that's fine, too.

Edward

Alumni - Champ

Retired after many years a tax professional.