Revised FAQs for 2020 Recovery Rebate Credit

IRS has provided updated FAQs regarding the 2020 Recovery Rebate Credit. Individuals who didn't get the full first and second Economic Impact Payments (EIPs) may be eligible to claim the 2020 Recovery Rebate Credit. The first and second EIPs were issued in 2020 and early 2021, and were advance payments of the 2020 Recovery Rebate Credit to be claimed on a 2020 tax return.
Individuals who are missing the first or second EIPs should review the revised FAQs to determine their eligibility and whether they need to claim a Recovery Rebate Credit for tax year 2020. If they're eligible, they will need to file a 2020 tax return if they have not yet filed, or amend their 2020 tax return if it has already been processed. Learn more here.