Rec Rebate CR

[KEYWEST_RICKS]

IRS.Gov says that both of the EIP payments have been sent.

 

the client claims he didnt receive the second one.

 

should we claim the credit or try to track down the check?   which is correct

 

thanks

jeff

[Abby Normal]

I'm assuming the IRS will correct the recovery rebates just like they correct estimated tax payment errors.

If it was a paper check, I'd wait about a month before filing because we've been getting first class mail in about 4-5 weeks, sometimes.

I think claiming the rebate is the better option, because if the IRS disagrees, they will change the return. Unless they haven't had time to reprogram their software.

So many interesting rebate questions on other forums. Divorced or unmarried couples where one parent got the kid's stimulus, but in 2020 the other parent is claiming the kids. People who were dependents under 17 in 2019 but are on their own in 2020. Since their parents got the stimulus for them in 2019, they should get the full rebate for themselves, I'd think. Single parent in 2019 got the full stimulus payments, but became a dependent of significant other in 2020 who just got their own stimulus payments.

 

[Lee B]

Also, some of the EIP payments were sent out as Debit Cards. The recipients threw them away not recognizing what they were.

The IRS supposedly will follow up when the Debit Cards expire unused. What a circus with lots of monkeys !

[Pacun]

Not a big deal in the following situations: REMEMBER, no money will be returned (let's say this is an amendment) to the IRS and 2020 tax year is the "constitution". 

Example 1.  Wife claimed 2 children in 2019.  Got $2,400 on first shipment and then got $1,800 on the second shipment a couple of weeks ago. 2020 is the year that matters... wife is single and no dependents. She doesn't need to return money because of the amendment to the "constitution".

Father got $1,200 and $600 because he had no dependents in 2019. In this case, he cares ONLY to what the "constitution" says (2020). He files 2020 and claims the two children.  What the "constitution" says: That he needs to get $500 per child for first stimulus and $600 for the second. So, you request that money in 2020 and no complications. 

Example 2. Child was a dependent under 17 in 2019. Parents got the two shipments of stimulus because child was a dependent in 2019 and what the amendment to the "constitution" says: "no money will be returned". 

Child is 18 in 2020 and is not in school and made 50K and will file a single. He will get $1,200 and 600 because the "constitution" says so.