Last year people who had no filing requirement could file a shortened 1040 to claim the advance stimulus payment. If someone did not do that, do they now file a 2020 tax return with no income, etc. and claim the refundable stimulus credits of $1,800? Can't find guidance from theIRS on this issue.
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"A man that holds a cat by the tail learns something he can learn no other way." - Mark Twain -
Have you looked on the IRS website “Questions and Answers about the Second Economic Impact Payment” and other EIP information, e.g., First Economic Impact (Stimulus) Payment?
Last edited by TAXNJ; 01-12-2021, 07:31 PM.Always cite your source for support to defend your opinion -
The RRC is a 2020 credit. If a tax payer did not get an advance (EIP) on the 2020 credit or did not get the full amount they are entitled to on their 2020 return, then they file a 2020 return to reconcile their EIP1 and EIP 2 (or lack therof) to their 2020 RRC.Comment
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Will there be a site to look up the amount that a client received in 2020 if client doesn't remember or where I can verify before filing?This post is for discussion purposes only and should be verified with other sources before actual use.
Many times I post additional info on the post, Click on "message board" for updated content.Comment
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You can pull a transcript. Your client can use Get My Transcript. The IRS has stated they will treat mismatches as math errors and make the correction, but that will slow down processing -- and refunds.Comment
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