Recovery Rebate Credit FAQ Update

As of August 20, IRS had more than 10 million unprocessed individual returns, including 2020 returns requiring correction to the Recovery Rebate Credit amount.

Individuals who did not receive an Economic Impact Payment in 2020, or who did not receive the full amount they believed they were entitled to, were able to claim the Recovery Rebate Credit on their 2020 tax return.

IRS has added Topic G, Correcting issues after the 2020 tax return is filed, to its Recovery Rebate Credit Q&A page. Questions include:

• I'm eligible for a 2020 Recovery Rebate Credit but did not claim it on my 2020 tax return. Do I need to amend my 2020 tax return?
• I received a notice indicating I made an error when calculating the 2020 Recover Rebate Credit on my return. I don’t agree with the notice. How do I respond?
• I filed my 2020 return electronically, but made a mistake calculating my 2020 Recovery Rebate Credit. Will my return be rejected?
• I received a letter saying that I did not calculate my 2020 Recovery Rebate Credit correctly. What if I disagree?
• I received a Notice CP10, CP11, CP12, CP13, CP16, CP23, CP24 or CP25 saying there was an issue with my Recovery Rebate Credit. What do I need to do?

Access the complete list of Recovery Rebate Credit Q&As here.