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The irs calls this credit the recovery rebate credit.
Stimulus check credit on tax return. According to the irs to claim the recovery rebate credit you need to file form 1040 or form 1040 sr even if you are normally not required to file a tax return the irs says anyone with an. If the typical schedule holds your federal tax return will be due april 15 though in 2020 the irs extended the. It s line 30 and it reads recovery rebate credit.
You may be able to claim the recovery rebate credit. The recovery rebate credit is a new addition to the federal income tax return. You can file for this credit when you do your federal tax returns this year.
In general this credit. Technically stimulus payments are an advance on a tax credit for the 2020 tax year. Filers who didn t receive the full amount of stimulus they re entitled to can claim it here.
The stimulus payment is cut by 5 for every 100 of income earned above the thresholds. The 2020 tax return has a specific line for you to claim the stimulus money.
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