Stimulus Check Tax Credit: Here’s Exactly How You’ll Get The Missing Money On Your 2020 Return

Despite the meeting eligibility criteria, for millions of people, their first and second stimulus checks never happened – or, only part of the payment appeared by direct deposit, check or EIP card. It’s possible the IRS made a mistake, that you miss money for your dependents, or that part of your check was garnished by mistake. Or, you can be a tax non-declarant who needed to take that extra step. Don’t worry: you can always claim the amount of stimulus money you are entitled to by, when you file your 2020 tax return, using IRS Recovery Rebate Credit.

This credit will not give you a separate check, but will also increase the size of your total. tax refundor reduce the amount of taxes you owe. And yes, although you usually don’t report taxes (for example, if you are SSI or SSDIwhere you are retirement) you will still need to file a 2020 tax return to claim your missing stimulus payment (we have instructions on how to claim the missing stimulus funds for non-filers here). We recommend that you get your documents in order before the IRS begins processing returns. February 12, declare your taxes early if you can, and direct deposit enrollment if you haven’t already.

The first step to getting your recovery discount credit is to confirm your payment status online through the IRS. If you see a confusing message, where it appears there was a mistake, you may be a candidate to claim missing money. In some cases, you may need to request a payment trace on your dunning check from the IRS, rather than using the credit. Here’s everything you need to know about filing a recovery refund credit to claim your missing stimulus money. Plus, here’s what we know so far about a third stimulus control, including how much money could you earn and how fast could this happen. This story was recently updated.

How do I report the missing stimulus money on my tax return?

If you belong to one of the groups described below, estimated your total for the first stimulus payment or used our calculator to get an idea of ​​your payment for the second and thinks the IRS did not send the full amount you qualified for, you have another chance this year to claim the missing stimulus check money through an IRS Recovery Refund Credit.

You will apply for the credit when you do your federal income tax returns this year. The IRS said it will start processing 2020 tax returns on February 12 and federal tax returns will be due on April 15. (In 2020, the IRS extended the deadline to July 15 following the COVID-19 pandemic).

While the IRS does not yet have final instructions for each personal situation (more information below), the agency says people who file taxes can use what will be referred to as the tax credit. clawback refund on the 2020 Form 1040 or Form 1040-SR to claim a catch-up payment. The IRS will provide a refund recovery credit spreadsheet to help you determine if you are missing a payment and for how much.

To start requesting a partial check refund, you will need the amount calculated by the IRS from the letter sent by the IRS confirming that your payment has been sent called Reviews 1444 for the first payment and Notice 1444-B for the second payment when you file this year.

If you apply for the credit and you owe the money, you will either see your tax refund amount increased or the tax amount you need to be reduced, depending on the amount of the stimulus money you are entitled to.

If I am a non-filer who is generally not required to file a tax return, how do I claim my missing stimulus money?

Last fall, the IRS sent letters to 9 million Americans who may have qualified for a payment, but may not have known they had to register to claim it. This group – whose IRS classifies as “non-filers” – includes people who did not file a tax return in 2018 or 2019, such as elderly, pensioners, SSDI or SSI recipients and people with incomes less than $ 12,200. People in this group had to file a claim using the non-filer tool by November 21. The IRS has said that if you miss the deadline, you can claim payment through the recovery refund credit when you file a 2020 federal income tax return:

When you file a 2020 1040 or 1040SR form, you may be eligible for the recovery rebate credit. Record your IRS Letter – Notice 1444 Your Economic Impact Payment – along with your 2020 tax records. You will need the payment amount in the letter when you file in 2021.

If you meet the conditions, you can start with your claim using the IRS’s free tax filing service. We have more detailed instructions on how non-filers can file a tax return to claim the missing stimulus funds here.

How do I claim the missing stimulus money for my dependent child?

Under the CARES Act, each dependent child – those 16 and under – was eligible for a check for $ 500. But some people’s payments ran out of $ 500 for each eligible dependent. If you claimed it before November 21, 2020, you should have received payment in December of last year.

As with non-filers, if you missed the deadline, the IRS has stated that you can claim payment on your 2020 federal income tax return this year, by completing a 2020 Form 1040 or 1040-SR. You can use our stimulus control calculator to get an idea of ​​how much is owed to you.

In the second stimulus check, children under 17 each received $ 600 as part of the family total.

Note that in some cases, when the parents are separated or divorced and share joint custody of a dependent, each parent can receive a payment of $ 500 or $ 600 per eligible child, for the first and second check, respectively, so you might not even know you’re eligible for payment to begin with.

What happens if my stimulus check was entered in error?

Although there are a few instances where the federal government or a debt collector might enter your first payment to cover any unpaid debt, in general, if you are eligible for a check, it’s up to you to spend or save as you wish. One area where the federal government can seize the first check is in overdue child support. You cannot have your second check seized because of late payment. However, if the parents are separated or divorced, only the spouse who owes child support should have the check seized.

According to the IRS, the parent who owes no child support should receive their share of the first payment without having to take action. If you did not receive your check, the IRS said it was working to send the missing payments. While you don’t have much recourse to appeal IRS rulings, you can also try the Non-Filers tool to create a record of your claim.

I used CNET’s stimulus calculator and think the IRS owes me more money. Now what?

If you use our first stimulus control calculator or second payment calculator and find that you may have qualified for a larger stimulus payment than the one you received, you can use the IRS Get My Payment tool to see if a check has been approved. If the IRS is waiting for information from you that it needs to make your payment, you may still be able to claim your money this year as a recovery refund credit.

What should I do if I am a U.S. citizen living abroad, living in U.S. territory, or am not a citizen?

The IRS has rules that define payment eligibility guidelines for U.S. citizens who live abroad and non-U.S. Citizens who work in the United States – as well as spouses of non-resident aliens. We have a guide who walks the various eligibility scenarios as well as what to do if you are eligible but have not received a check. (And here’s how the status can change in a third check for mixed status families.)

Why incarcerated people are not excluded from stimulus money

Since April, when it started sending payments, the IRS has been going back and forth to find out if those in US jails and prisons are eligible for a stimulus check.

A ruling last fall by a California federal judge, however, appears to have settled the matter for now and forced the IRS to contact those in prison who can file a claim for a stimulation test. The deadline for filing a claim in 2020 – by mail or online – has passed. As with others who miss a payment, the IRS has said that if you don’t receive a payment by December 31, 2020, you may be able to claim it this year by filing a 2020 Form 1040 or 1040-SR.

To know everything about the first payment, see our guide to the first control tower. We also have an idea of how much money you could get on the next stimulus check, the current situation is with a third stimulus payment and all the benefits that the next stimulus package could bring.