EIP (Economic Impact Payment) IRS Return question

[MJ]

I received the 2nd EIP $1200 ($600 x 2) January 4 2021. The H&RB software is asking me if I received the 2nd EIP in 2020. If I answer NO, it adds $1200 to my refund. While I would love to take ANOTHER $1200, it sounds like I'd have a problem later with the IRS with possible penalties.
Anyone have a similar problem?

 

[MJ]

It looks like the H&RB software is providing incorrect question regarding the 2nd EIP. This is the 2nd error I found in this software. Again, I went back to the Online FreeTaxUSA app and they provided the correct wording for the 2nd EIP.

 

[ocean view]

Most people received it in 2021, like you. For this instance, the IRS wants to know if you received it and they don’t care if it was received in the next tax year. It sounds like HRB has worded the question poorly.

Line 19 of the Recovery Rebate Credit Worksheet only asks “Enter the amount, if any, of EIP 2 that was issued to you”

 

[Winemaker]

The Turbo Tax version may be no better. It asked if I got the first, which I did, and asked about the second, which I didn't. It said we qualified for both, but I don't see a credit or any follow uo for the second. I didn't think we qualified for second, but helicopter money spends just as good in my hands as well as the neighbors.

 

[GalaxyBoy]

I'm using HRB Basic and the wording of the question it asks me is, "Did you get the second economic stimulus payment of 2020 (sent in 2021)?" Seems pretty clear. Maybe your version is different?

 

[USGrant1962]

My H&RB says a Federal update is due tomorrow, so check back then.

EDIT, but yes the question is poorly worded.

 

[upset264]

Read the question carefully

My H&R Block asks if I received the second stimulus payment of 2020, not in 2020. Elsewhere on the same page is says the second stimulus payment of 2020 was issued in late 2020 or early 2021.

The key is it is a prepaid refundable credit on 2020 income tax.

 

[PaunchyPirate]

The Turbo Tax version may be no better. It asked if I got the first, which I did, and asked about the second, which I didn't. It said we qualified for both, but I don't see a credit or any follow uo for the second. I didn't think we qualified for second, but helicopter money spends just as good in my hands as well as the neighbors.

TurboTax (at least the desktop version) asks these questions at the beginning of the "Federal Review" subtab of the "Federal Taxes" interactive walkthrough.

The value it shows you during that session should directly show up on Line 30 of your Form 1040.

Mine certainly does.

 

[VanWinkle]

The question is there to determine if you received your second stimulus payment- the date is of no consequence. If you answer no, it will add the 2nd payment amount to your tax return although you have no refund coming to you if you received the stimulus. Don't double dip or they will come back with possible penalties for taxes owed. Error on the side of caution in this case.

 

[jldavid47]

I received the 2nd EIP $1200 ($600 x 2) January 4 2021. The H&RB software is asking me if I received the 2nd EIP in 2020. If I answer NO, it adds $1200 to my refund. While I would love to take ANOTHER $1200, it sounds like I'd have a problem later with the IRS with possible penalties.
Anyone have a similar problem?

It's not a problem. The question says "Did you get the second economic stimulus payment of 2020 (sent in 2021)?" If you got it, answer YES. The fact that it was deposited in early January is irrelevant.

 

[Winemaker]

TurboTax (at least the desktop version) asks these questions at the beginning of the "Federal Review" subtab of the "Federal Taxes" interactive walkthrough.

The value it shows you during that session should directly show up on Line 30 of your Form 1040.

Mine certainly does.

Alas, poor Yorick, the space is blank, even after upgrades.

 

[cathy63]

Alas, poor Yorick, the space is blank, even after upgrades.

If you are using the desktop version of TurboTax, go into Forms mode (Ctrl+2) and look at the Recov Rebate Cr worksheet. That may shed some light on things.

It is working for me when I answer "No" to the question "Is this what you received?" and then put 0 in for the second stimulus.

 

[MJ]

I'm using HRB Basic and the wording of the question it asks me is, "Did you get the second economic stimulus payment of 2020 (sent in 2021)?" Seems pretty clear. Maybe your version is different?

Just to be clear, did you add "(sent in 2021)" here or was that in the original HRB wording?

 

[Winemaker]

Thanks, for all of your replies, but I think I was misinterpreted. OP was commenting on the HRB software issues and I wrote the the Turbo Tax software may be a little wacky, also. The question about the 2 Stimulus payments came up during the TT interview, which I correctly answered, but it said I was qualified. I know I am not qualified for the 2nd, nor the 3rd stimulus, despite what TT says. But TT does not correct itself, when I go back and update another portion of my return. I've used TT for almost 20 years and have great faith in them, but there is a quirk somewhere.

 

[GalaxyBoy]

Just to be clear, did you add "(sent in 2021)" here or was that in the original HRB wording?

I copied and pasted everything within the quotation marks. Basically, I’m lazy.

 

[MJ]

I also forgot to add the HRB does included the EIP questions in the interview but rather has a fast fix that comes up at the final review step as missing information that you have to enter directly into the worksheet form. I have the HRB Self-Employed/Rental version. At least I got it on eBay for only $39.

 

[Bogie]

Missed stimulusII. I have a relative who is special needs who qualifies for the stimulus and got a letter saying it should have already been received but hasn't been received yet. The relative only receives Social Security and so normally does not need to file a tax return. I called IRS and they said he will not get a payment unless he files a 2020 return. I didn't know they required a tax return to process the stimulus payment. Thought others might know someone in this situation.

 

[Bogie]

https://www.fool.com/taxes/2021/01/28/do-you-have-to-file-taxes-to-get-a-stimulus-check/


"Because of this form, it was not necessary for non-filers to submit a tax return to get their stimulus money. However, the deadline for using the form for non-filers has now passed, and the form is closed. As a result, if you did not get your stimulus payment(s) yet, or you didn't receive the full amount owed, you will have to file a 2020 tax return to claim your payment."