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April 26, 2020
Question

On turbo tax, i put "Yes" for " Can be claimed by someone?" and "No" for "Is claimed by someone?". I was not claimed by anyone in 2018 or 2019. Will i get stimulus payment??

  • April 26, 2020
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April 26, 2020

if you told the IRS you were claimed by someone else, the assumption is you will not receive the stimulus check.

 

here are the qualifications: 

 

A1.  You may be eligible to receive a Payment if you:

  • Are a U.S. citizen or U.S. resident alien;
  • Cannot be claimed as a dependent on someone else’s return;
  • Have a Social Security number (SSN) that is valid for employment (valid SSN); and
    • Exception: If either spouse is a member of the U.S. Armed Forces at any time during the taxable year, then only one spouse needs to have a valid SSN
  • Have adjusted gross income below an amount based on your filing status and the number of your qualifying children.

here is how you can fix that:

 

1) send in an amendment. Normally that takes 16 weeks but the IRS has stated that they are not processing paper submissions at the present time due to the pandemic.  When they do process it, there is no guidance from the IRS whether they will immediately turn around and send out the stimulus.  Maybe they will and maybe they won't 

 

2) Wait until your file your 2020 tax return. 

 

 

  • The stimulus payments are really based on your 2020 tax return (income, dependents, etc).
  • The IRS is using either 2018 or 2019 – whatever is available  - to ESTIMATE that payment
  • When you file next year there will be a “settle up” section on the tax return. 
  • If you are due more stimulus (and this would include where you simply never received it), you will receive it through the 2020 tax filing as an additional refund
  • If you received too much stimulus (not the issue here), by law , you are not required to return it

does that help?