Generally, this credit will increase the amount of your tax refund or decrease the amount of the tax you owe.Įligible individuals who did not receive an Economic Impact Payment this year – either the first or the second payment – will be able to claim it when they file their 2020 taxes in 2021. It is a tax credit against your 2020 income tax. The Recovery Rebate Credit is authorized by the Coronavirus Aid, Relief, and Economic Security (CARES) Act and the COVID-related Tax Relief Act. Learn more about the 2020 Recovery Rebate Credit here. If you did not receive the full amount of the first two payments, you may be eligible to claim the 2020 Recovery Rebate Credit on your 2020 tax return. If you have questions about the Get My Payment tool, visit the IRS Get My Payment FAQ page.ĭidn’t get the full First and Second Payments? You can check when and how your payment was sent with the Get My Payment tool. The Third Economic Impact Payments in accordance with the American Rescue Plan Act of 2021 are being distributed by the IRS. How do I get the Third Economic Impact Payment? The IRS also launched a new hotline to help answer FAQs about stimulus payments, which you can reach at 80. If you have questions, you should visit this FAQ page, which is regularly updated and has helpful info about eligibility, calculating your payment, and more. If you are unsure about the eligibility and contents of each EIP, you can read more about them at these webpages:įor the IRS homepage for all Economic Impact Payments click here. I’m sorry that I couldn’t find out an official answer but I’m sure it’s because he was uninformed as well.Information on Economic Impact Payment #1, #2, and #3ĬOVID relief packages passed by Congress provided three rounds of stimulus payments. The verdict UNFORTUNATELY is still a fat “I have no fucking clue” it could be either or at this point. so I reiterated what I said previously in this post directly to him and he completely ignored me and said “sir I believe you will be receiving a paper check” yadayadayada. The government only has two options right now: direct deposit through bank info or physical check”. He basically had me on hold for 30 minutes to say exactly, “no sir I believe you will be receiving a physical check. The account is powered by green dot so I’m assuming it’s legit. The account tied to your card has an account and routing # so I was like okay the IRS sent the money to this card because they have this “banking” information. If you go on the turbo card app designed for it you’re able to set up DD through them. Okay of course 30 minutes to receive a vague damn answer. I’m sorry that I couldn’t find out an official answer but I’m sure it’s because he was uninformed as well. I will update after the call is completed.ĮDIT: Okay of course 30 minutes to receive a vague damn answer. Currently on the phone with an expert from Turbo Tax figuring out if the Stimulus Check will go to the accounts of the people who chose to have their tax returns sent to the prepaid mastercards Turbo Tax provides.
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