COVID-19 Stim. Deposit dependents

Forum|Forum|5 years ago
April 15, 2020
1 reply
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I recently filed taxes in March with direct deposit, received tax return but accidentally had checked the box stating “someone can claim me as a dependent”. This is not true and was unfamiliar with what dependents were at the time. I sent in an amended return last week though I was wondering if I will still receive a stimulus check anytime soon because of that error. I also tried to file with the enter payment info here through the irs (Not checking -someone can claim me as a dependent) and received an error saying a tax return was already filed. Thank you

Not A Product Question

NCPERSON1

the amendment will take at least 16 weeks to process and there is no guidance from the IRS if they will send out the stimulus check immediately thereafter

but here is the way it will work out eventually:

The stimulus payments are really based on your 2020 tax return (income, dependents, etc).
The IRS is using either 2018 or 2019 – whatever is available - to ESTIMATE that payment
When you file next year there will be a “settle up” section on the tax return.
If you are due more stimulus (and this would include where you simply never received it), you will receive it through the 2020 tax filing.
If you received too much stimulus (not the issue here), by law , you are not required to return it

does that help?