IRS Stimulus Payments Update

The IRS says that they have completed distribution of all stimulus checks or payments. The first round of checks of up to $1,200 per person started going out last April. In the second installment, checks up to $600 per person started going out around the new year. Those who still have not gotten their check, or didn’t get the full amount they are due, can still claim the payments as a rebate when they file their 2020 tax return. The Recovery Rebate Credit can be found on line 30 of 2020 tax Form 1040 or 1040-SR.

Robert (Bob) Schmidt, CPA

Principal at BWTP, P.C. Read Bob’s bio here.

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