Tax Preparation Resources
ECONOMIC IMPACT PAYMENT
Eligible 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. The IRS urges taxpayers who didn’t receive a payment this year to review the eligibility criteria when they file their 2020 taxes; many people, including recent college graduates, may be eligible to claim it. People will see the Economic Impact Payments (EIP) referred to as the Recovery Rebate Credit (RRC) on Form 1040 or Form 1040-SR since the EIPs are an advance payment of the RRC.
To check on your payment status, payment type or whether more information may be needed, click here.
If you didn’t get the full Economic Impact Payment and need more information on the Recovery Rebate Credit, click here.
To view the IRS Frequently Asked Question, click here.
You may also check out this short informative video: