Recovery Rebate Credit — Topic E: Receiving the Credit

A1. If you are eligible for a refund of your 2020 income tax, then, the amount you receive for the Recovery Rebate Credit will be included as part of your 2020 tax refund.  It will not be issued separately. You can check the status of your refund under Where’s My Refund? Generally, you will receive your refund within 3 weeks if you file electronically or 8 weeks if you mail your return. If the IRS identifies an error in your calculation for this (or anything else reported on your return), it could cause a delay while we make any necessary corrections.

A2.  Yes, it will be. The COVID-related Tax Relief Act of 2020 clarifies that while the Economic Impact Payments could not be offset for back taxes, an overpayment of your 2020 income tax liability including the Recovery Rebate Credit can be applied to pay them.

A3.  Yes, it may be to the extent that you have an overpayment of your 2020 income tax liability. The Recovery Rebate Credit can be reduced to pay debts owed to Federal or state agencies.

A4. Generally, a credit increases the amount of your tax refund or decreases the amount of taxes owed. The amount you receive for the Recovery Rebate Credit will be included as part of your refund or applied to any tax owed.

The fastest and most accurate way for you is to file is electronically where the tax software will help you figure your Recovery Rebate Credit. Visit IRS.gov/filing for details about IRS Free File, Free File Fillable Forms, free VITA or TCE  tax preparation sites in your community or finding a trusted tax professional.  

Anyone with income of $72,000 or less can file their Federal tax return electronically for free through the IRS Free File Program. The fastest way to get your tax refund is to file electronically and have it direct deposited - contactless and free - into your financial account. You can use a bank account, prepaid debit card or mobile app for your direct deposit and will need to provide routing and account numbers.

A5.  Claiming the Recovery Rebate Credit on your tax return will not delay the processing of your tax return. However, it is important that you claim the correct amount. Any errors in the credit amount on your tax return will be corrected.  Your refund may be delayed while we make any necessary corrections.

The fastest and most accurate way for you is to file is electronically where the tax software will help you figure your Recovery Rebate Credit. Visit IRS.gov/filing for details about IRS Free File, Free File Fillable Forms, free VITA or TCE  tax preparation sites in your community or finding a trusted tax professional. The Recovery Rebate Credit Worksheet in the Form 1040 and Form 1040-SR instructions can also help  determine if you are eligible for the credit.

Anyone with income of $72,000 or less can file their Federal tax return electronically for free through the IRS Free File Program. The fastest way to get your tax refund is to file electronically and have it direct deposited - contactless and free - into your financial account. You can use a bank account, prepaid debit card or mobile app for your direct deposit and will need to provide routing and account numbers.