Question

Stimulus

Forum|Forum|5 years ago
March 1, 2021
1 reply
0 views

I hadn't received my 2nd stimulus when I filed my taxes, so I marked "no" for the question where it asks if you had. With "no" selected, it added the 2nd stimulus to my tax return, upping what I'd be receiving in my tax return. I've since received it after my tax return was accepted. Do they know to pull that money from my return? It is still showing the same amount I'll be getting back WITH the stimulus added. I just do not want to hassle with sending money back to the IRS...

M

MinhT1

If you claimed the Recovery Rebate credit on your 2020 tax return because you did not receive the second stimulus then subsequently receive your second stimulus payment by mail or direct deposit, I advise that you should wait to receive your refund before taking any action.

It is likely that the IRS will cross-check with their records and adjust your refund. If they do, all is fine and nothing needs to be done. If they do not adjust your refund, then you should amend your return and correct the Recovery rebate credit. With your amended return, you will enclose a check equal to the overpayment.

If you owe taxes, I advise that you make an additional tax payment before April 15, 2021 equal to the overpayment. You can pay online at irs.gov/payments and apply the payment to your 2020 form 1040.

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