Economic Impact Payments (EIPs) are considered advanced payments against a new credit, called the Recovery Rebate Credit (RRC), that can be claimed when you file your 2020 individual tax return. You must file Form 1040 or Form 1040-SR to claim the RRC even if you are normally not required to file a tax return. EIPs were paid in two rounds – one during 2020, and one during early 2021.
So, this filing season, you can claim the RRC if you:
- Did not get either round of EIP, but qualify for the RRC, or
- Did get an EIP, but not the full amounts of both rounds of EIP, and you qualify for the RRC.
The 2020 tax return instructions include a worksheet you can use to figure the amount of any RRC for which you are eligible. However, the worksheet requires you to know the amount(s) of the EIPs that you received already in order to calculate any remaining amount of the RCC that you might be owed.
So, how do I find the amounts of my EIP?
- Notices 1444/1444-B: You should have received Notice 1444 for the first round of EIP and a Notice 1444-B for the second round of EIP. If you kept these, you can use the amounts shown.
- Check bank account records, if received an EIP by Direct Deposit: A majority of taxpayers received the EIPs via direct deposit, so you should try checking your online or paper bank account information for the amounts received.
- Use the IRS Online Account option: Create an online tax account or sign-in to an existing one. The EIP amounts will be shown on your account.
- Order a Transcript: You can order an account transcript online or by mail.
- Caution: The ‘Get Transcript Service’ is for individual taxpayers to retrieve their own transcripts for their own purposes. Use by any other entities is prohibited.
- Generally, the amount(s) can be found by looking for the words, “Tax Relief Credit”, in the explanation column. If there are qualifying children involved, those amounts may be shown separately. However, if multiple amounts are shown, the combined total should also be shown. So be careful to use the combined total/correct amount.
Do not use the IRS Get My Payment tool to look up the total EIP amount.
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