Question

Stimulus problem

Forum|Forum|5 years ago
March 17, 2021
1 reply
0 views

My 2020 paycheck was eligible for full stimulus, but I believe the IRS used my 2019 return to calculate my stimulus and the 2020 return wasn’t processed until after the bill passed.

Will the IRS review my now processed 2020 return and provide the payment? Or, will I have to wait until next year to claim the missing stimulus on my taxes?

Not A Product Question

ReneeM7122

Yes, the IRS will likely review your 2020 return and provide your payment. We don't know whether the IRS will use 2020 or 2019 tax returns to calculate the 2021 stimulus payment but it seems likely that it will be 2020. The IRS is reviewing implementation plans for the newly enacted American Rescue Plan Act of 2021. Additional information about the new round of economic impact payments is anticipated in the coming days.

Here is a TurboTax article about the American Rescue Plan

@ianbm