![]() ![]() Or if you didn’t receive $500 for each qualifying child.You are married and filed jointly, your adjusted gross income is less than $150,000 and your stimulus payment was less than $2,400.You are single, your adjusted gross income is less than $75,000 and your stimulus payment was less than $1,200.Your 2020 Tax Information makes you eligible but you were not issued a stimulus check in 2020.So, you may be able to claim the Recovery Rebate Credit for the first or second stimulus payments if one of the following applies to you: If a correction is needed, this will cause a delay in processing the tax return and the IRS will send the taxpayer a letter or notice explaining any change. If there’s a mistake with the stimulus credit amount, the IRS will calculate the correct amount and make the correction and continue to process the tax return. A math error relating to the calculating adjusted gross income and any stimulus check amounts already received.The qualifying child was age 17 or older on January 1, 2020.The taxpayer did not provide a social security number that is valid for employment purposes.The taxpayer was claimed as a dependent on someone else’s 2020 tax return.Some common possible reasons why the IRS corrected the credit amount are: For the third stimulus payment, your credit will be based on information in your 2021 tax return (that will be filed in 2022). ![]() The IRS figures out the amount of the Recovery Rebate Credit similar to how they calculated your stimulus payment, except your credit eligibility and the amount of the credit are based on new information from your 2020 tax return (that will be filed in 2021) instead of using your 2018 or 2019 information for the first and second stimulus. You can take the Recovery Rebate Credit for any recovery rebate amount that is more than your stimulus payments you received in 2020 if you did not receive the full amounts.
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