Question on rebate credit

[S1993]

Good Morning Everyone!

The IRS said they mailed our second stimulus payment, but information online says it may take an additional 4 to 6 weeks to arrive. We badly need the stimulus, and we badly need our tax refund. Our first stimulus check was missing a dependent, and we know our second one will be too (we had a baby in late 2020). So in order to get money to us quicker, am I able to file right now, claim the credit from the missing one earlier in 2020 and say we haven't received the second stimulus, then just rip up the check when it arrives?

Thanks,

-Shane

[CatinaT1]

I would not do that.  The IRS just announced e-filing will begin on Feb 12.  Any return submitted before then will just wait in a holding queue. I would wait until closer to the opening of e-filing to be sure your return is accurate.

This link provides the most up to date information available from the IRS:  IRS Update

This link will tell you more about the Recovery Rebate Credit:  Recovery Rebate Credit.

[edited | 1/15/21 | 1:06pm]

[Opus 17]

Don't do that.

First of all, the IRS knows what they paid you (it will be on notice 1444 and 1444-B that they mail after sending the payment).  If you make a claim as if you did not receive a payment, they will either reject your e-filed return, or correct your return and reduce your refund to account for the payment they sent.  Then, if you ripped up the check in the mean time, you will have to request a replacement check and I have no idea how long that will take.  

Second, the IRS won't open e-filing until at least January 27.  Any returns filed earlier through Turbotax will only go into cold storage.  So the earliest you might get a refund is February 10.  And if you are claiming the additional child tax credit (for certain low income taxpayers) or earned income credit, the PATH act prevents the IRS from making any refund payments until the last week of February at the earliest.