We don’t blame you if you’re counting down the days, bringing in your household. While the isn’t final yet, the is expected to become law this week. But what happens if you’re missing your or your , for you or ?
Well, now thathas arrived, it’s time to file a Recovery Rebate Credit on your if you’re missing any money. In general, . Your money could arrive sooner, as either a or a smaller tax bill, and could also . (In certain cases, the IRS could to cover outstanding debts.)
Below, we’ll tell you everything you need to know about how to start the Recovery Rebate Credit claim process, including any additional steps you need to takethis year. We’ve also got more information about and . This story was recently updated.
How to file for a Recovery Rebate Credit on your taxes to claim missing stimulus money
If you belong to one of the groups outlined below,or used and think the IRS didn’t send the full amount , you have another chance this year to claim missing stimulus check money through an IRS .
To start the Recovery Rebate Credit claim process, first. If you see a or , you may be a candidate for a rebate or a .
You need to file for the credit when you submit yourthis year. The IRS started processing 2020 tax returns on , and federal tax returns will be . (In 2020, the IRS as a result of the COVID-19 pandemic. A House committee has this year as well, but the IRS has not yet granted it).
File for your missing money from the first and/or second stimulus on theor . The tax return instructions include a worksheet to figure out the amount of any Recovery Rebate Credit for which you’re eligible, according to the IRS. However, this worksheet requires you to know the amounts of your stimulus payments. Again, CNET’s and can provide an estimate.
To start filing for a partial check rebate, you’ll need the IRS’ calculated amount fromconfirming your payment. This was called Notice 1444 for the first payment and Notice 1444-B for the second payment.
If you file for the credit and are owed money, you’ll either see the amount of your tax refund increased or the amount of tax you owe lowered, depending on the amount of.
How to claim missing stimulus money as a nonfiler or someone who doesn’t usually file taxes
Last fall, the IRSwho may have qualified for a payment but perhaps didn’t know they needed to register to claim it. This group — which the — includes people who , such as , and individuals with . People in this group needed to file a claim by Nov. 21. if you missed the deadline you can claim the payment through the Recovery Rebate Credit when you file a 2020 federal income tax return:
When you file a 2020 Form 1040 or 1040SR you may be eligible for the Recovery Rebate Credit. Save your IRS letter — Notice 1444 Your Economic Impact Payment — with your 2020 tax records. You’ll need the amount of the payment in the letter when you file in 2021.
That means even if you don’t usually file taxes, you will have to do so this year to claim any missing stimulus money. If you meet the requirements, you can get started with your claim. We have .
Yes, the IRS could garnish your tax refund or missing stimulus money to cover debts
Unfortunately, it can. Stimulus checks — whether you got one in the mail or are filing for one on your taxes — are technically considered a tax credit. While one IRS rule allows the agency to reduce a taxpayer’s refund to repay outstanding debts like past-due child support, unpaid student loans and certain other federal and state liabilities, thestated that stimulus checks could not be garnished for these purposes, except for overdue child support.
Thewent a step further and protected the second round of stimulus checks from all garnishment, including for child support. However, it also limited that exception only to advance payments, and retroactively revised the CARES Act’s rules as well — meaning that your Recovery Rebate Credit that arrives on your tax refund for missing stimulus money is treated differently from the stimulus money that arrived for others in the mail, , an independent organization within the IRS.
Bottom line: If you’re eligible for a stimulus payment through a Recovery Rebate Credit, but you have certain outstanding debts, some or all of your credit could be withheld to pay those debts, the TAS wrote in a.
Though the IRS has told taxpayers that they can claim their full missing stimulus payment on their 2020 returns, this is inaccurate based on the law change, the TAS said. The IRS told the TAS that it “has been looking into this issue and is exploring ways to exercise its discretion to help vulnerable taxpayers, taking into account the limitations of its IT systems, resource issues, and a rapidly approaching start to the filing season.”
What to do if your stimulus check was mistakenly garnished
Although there are a few cases where the federal government or a debt collector could, in general, if you qualify for a check, . One area where the federal government can garnish your first stimulus check is for overdue child support. However, if the , only the spouse who owes child support should have the check seized. You can’t have your second check seized for overdue support if it was sent as an advance check (see above).
, the parent who doesn’t owe child support should receive their portion of the first payment without having to take action. If you haven’t received your check, to send out the missing payments. While you don’t have much recourse to appeal IRS decisions, you can also to create a record of your claim.
How to claim stimulus money for child dependents
Under the CARES Act passed in March, each qualifying— those 16 years old and younger — was eligible for a $500 check. But some people’s payments for each eligible dependent. If you of 2020, you should have received the payment in December 2020.
As with the nonfilers, if you missed that deadline, the IRS sayson your 2020 federal tax return this year, by filing a 2020 Form 1040 or 1040-SR. Use our to get an idea of how much you may be owed.
In the second stimulus check, which went out in December, children under 17 were each allotted $600 as part of the family total.
Note that in a few cases, where parents are separated or divorced and share joint custody of a dependent,per eligible child, for the first and second checks, respectively. So you may not even be aware you’re eligible for the payment, to begin with.
What to do if you used CNET’s stimulus calculator, and it appears that the IRS owes you more money than you received
If you use ouror and find you may have qualified for a larger stimulus payment than you received, use the 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 might still be able to claim your money this year as a Recovery Rebate Credit.
What to know if you’re a US citizen abroad or a non-citizen
The IRS has rules that set the payment eligibility guidelines for US citizens who live abroad and non-US citizens who work in the US — along with spouses of nonresident aliens. We have a guide that walks you through theif you qualify but didn’t get a check. (And here’s how your status might change in a for .)
People in jail can still receive a stimulus payment, according to a court ruling
Since April, when it first started sending payments, the IRS has gone back and forth on whether.
A ruling last fall by a, however, seemed to have settled the question for now and required the IRS to contact those incarcerated and let them know they can file a claim for . The deadline to file a claim in 2020 — either through the mail or online — has passed. As with others who are missing a payment, if you didn’t receive a payment by Dec. 31, 2020, you may be able to claim it this year by filing a 2020 Form 1040 or 1040-SR.
For everything to know about the first stimulus payment,. We also have an idea of , the current status of a and all the .