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Not Just Your Tax Refund: Money to check incentives is the real reason to file early this year



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The sooner you file your taxes, the sooner you’ll see that incentive green.

Sarah Tew / CNET

The tax authorities have cut back its usual start date for tax season until February 12th this year, so that everyone has a few more days to collect their paperwork. If you get everything from the IRS early, of course you will get your federal tax refund earlier. But this year’s immediate submission has two more benefits for many people: By filing a direct deposit with the IRS when you file your tax return, you can file a third stimulus check rather than by mail, especially if Congress approves a new incentive payment during tax season. And just as importantly, if you’re filing a file soon and if the IRS will file your unpaid stimulus check money by the January 15th IRS deadline, you can claim it when you submit a file.

You could be in a group of at least 8 million people Biden’s records have been established qualify for stimulus check-in money but who haven’t received the check they owed – and maybe millions more who haven’t all the funds they were entitled to – because of a administrative error or other problem. Some people had problems with it custody and child support, miss money for it dependent children in general or accidental seizure.

We’ll explain how submitting early can help you get it stimulus check money you never received (along with a tax refund, if you qualify). Then we’ll show you how to estimate your total and what to do for it the stimulus check tax reduction on your 2020 tax return. Plus, here’s everything you need to know incentive checks and your taxes for 2020, the top facts to keep in mind and when it is time contact the IRS or set one payment trace.

Important dates to remember: when you could get the missing incentive money and your tax refund

While you can still technically file your taxes by mail and request a paper check, the fastest way to file the money you owe is electronically and have money available deposited directly into your bank account. This year, the IRS will not accept tax returns until February 12so you can submit your own files as soon as possible (April 15th is the last day to submit). The IRS says 90% of filers will receive their refund within 21 days or sooner, but it may also take even less time than that.

The IRS says it Where is the My Refund tool displays the status of your refund within 24 hours of submission, which may include confirmation that your refund has been made. From that point on, it can take one to three days for the money to be in your bank account.

When to expect your tax refund

If you submit a file on this date This is the fastest This is the last

12th of February

February 19

Feb 5

1 Mar.

8 Mar.

22 Mar.

April 1st

April 8

April 22nd

April 15th (last day to submit)

April 22nd

6 May

Oct 15 (last day with extension)

22 Oct.

5 Nov.

Assuming that 7 days is the earliest you receive your combined tax / incentive refund and 21 days is the longest, we’ve outlined the difference filing an application earlier rather than later. (Below is more information on how to calculate how much money you have in addition to your tax returns.)

How do I find out if the IRS owes me an incentive payment?

To find out if and how much money you owe from a previous round of stimulus checks, if applicable, you must first determine how much you owed for each previous payment, then subtract the amount you already received.


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To calculate the payments you owed:

Next, you want to check your bank account where your payments were deposited to determine what amount you received. (If you EIP card, you can view the balance and transaction history here.) The IRS should have sent you a letter within 15 days of your stimulus check being issued, by whatever means, and that letter must state how much money you have received. (Here’s what to do if you haven’t gotten the notice from the IRS.)

If you don’t have that letter anymore, you can use the IRS’s Get My Payment tool to help you find out when you received payment. It also shows you the last four digits of the bank account it was deposited into if it was deposited directly.

There is also a form to help you calculate the amount you owe on page 59 of this pdf with instructions for 1040 and 1040-SR tax forms, but it’s a doozy to follow.

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If any of your previous incentive checks were accidentally lowered, you can claim the difference as a tax credit when you file this year.

Angela Lang / CNET

Why the IRS could owe you money from one or both of the incentive payments

There are a variety of reasons the IRS may still owe you stimulus check fees, including:

How to Claim Your Missing Incentive Money on Your Taxes

The IRS requires you to complete Form 1040 or 1040-SR if you have a Refund Discount on your taxes for 2020. Once you calculate the amount due, enter it on line 30 of one of these forms (see screenshot). Yes, it is that simple.

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The fastest way to get your money is to deposit electronically and have the money deposited into a bank account.

Sarah Tew / CNET

How to Get Your Missing Incentive Money

If you owe a refund from the IRS, this includes both your full refund amount and what you owe from the Refund Discount. In other words, it gets bigger. However, if you owe the IRS money, your Recovery Rebate Credit will be applied to the debt. If the tax credit is more than you owe, you will be refunded the difference.

Here is what to do if you don’t submit a file, that is, you don’t have to file a tax before 2020, and you still owe an incentive check. If you have dependent children, this information about the child discount can help put more money in your pocket. And here is how to calculate your adjusted gross income, also known as AGI.


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