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New Member
posted Jan 14, 2022 10:22:56 AM

What do I need to do to recieved the stimulus Plus up payment???

When filing my taxes with turbo tax i noticed the IRS will need 2020 and 2021 income tax making less for 2021 than 2020 , my question is when I file is this automatic or do I need to provide those years of taxes because I didn't see the option when filing

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Level 8
Jan 14, 2022 8:09:43 PM

The Third Economic Impact or ‘Plus-Up’ payment is based on your 2021 income. The IRS used 2019 or 2020 income to send an advance payment last year because it did not have 2021 information when those payments went out.

 

If you received less than you were entitled to because your 2019 or 2020 income was higher than 2021, the extra amount will be added to your refund as a Recovery Rebate Credit. This calculation is based on your 2021 income (and the 'plus up' you actually received) so you do not need to enter any 2020 information.

 

TurboTax will ask whether you got the third stimulus payment. If you did, say yes. TurboTax will ask you to confirm the amount. If you received something other than what TurboTax says you are entitled to, enter that number and TurboTax will add the extra money to your refund.

For more info see Third Economic Impact Payment