If you received the full amount for the first two Economic Impact Payments, do not include any information about your payments when you file your 2020 taxes. If you’re eligible and didn’t receive Economic Impact Payments, or you didn’t get the full amount you’re eligible for, you may be able to claim the Recovery Rebate Credit. You may also be eligible to claim other tax benefits such as the Earned Income Tax Credit and the Child Tax Credit.
To claim the Recovery Rebate Credit, you must file a 2020 tax return – even if you aren’t normally required to file. The most accurate and fastest way to file is electronically. You can choose to have your refund directly deposited into your bank account.
It’s important to remember that the third round of economic impact payments will not be claimed on your 2020 tax return or used to calculate the 2020 Recovery Rebate Credit.
For more details about the 2020 Recovery Rebate Credit, check out IRS.gov/RRC.