Question

Recovery Rebate Credit

Forum|Forum|4 years ago
June 15, 2021
1 reply
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I filed the tax and received a letter from IRS saying I owe for the Recovery Rebate Credit. None of the indicated "errors" apply to our return.

Critter-3

The last bullet point " math error" is what the IRS calls a miscalculation of the RRC which happens when the amount entered in the program is not the same as what the IRS said you got in advance which makes the calculation of the credit on line 30 of the form 1040 incorrect. When the IRS recalculates the return it either reduces your refund or increases the balance due.

J

jcmorris5014Author

In reading the description of the Recovery payment it appears that if we received the $$ we can not claim a credit. Is that correct? We received all the payments as a check or deposit. I misinterpreted the instructions about the second EPI when I filled out the 1040.

VolvoGirl

Employee

Right, if you already got the first or second stimulus checks you can't get the credit unless you qualify for more. Did you get the second one after you filed? If it showed up again on line 30 the IRS will adjust if off for you and reduce your refund or send you a bill. They know they already send it to you.