Recovery Rebate Credit

For those of you who did not receive the Economic Impact Payment or the proper amount of Economic Impact Payment you will be able to receive an adjustment on your 2020 Form 1040. Please note if you received the proper amount ($1,200 single. $2,400 married filing jointly, plus $500 for each qualifying child you had in 2020) then you do not need to do anything.

The IRS will continue to send the Economic Impact Payment through 12/31/2020. Please note the Economic Impact Payment will not be considered income to you on your 2020 tax return. You can check the status of your payment here: Get My Payment application

If you have any questions please contact the office.