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Recovery Rebate Credit FAQ’s

recovery rebate credit

What is the Recovery Rebate Credit?

You can claim your missing stimulus payment with the Recovery Rebate Credit. The IRS introduced the Recovery Rebate Credit for eligible taxpayers who did not receive first or second stimulus payment.

This credit was authorized for COVID-19 assistance under the CARES Act. It is an advanced payment which will increase your refund or lower your tax due to the IRS.

What are the requirements?

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How to File Your 2019 Taxes

One word to describe the 2020 tax season would be unpredictable.

Due to the COVID-19 pandemic, taxpayers were allowed extra time to file their 2019 tax returns. This meant more time to spend with your loved ones during this time and a less stressful tax season with an extra month to file.

Luckily, the IRS gave taxpayers tax relief for filing and payments. With tax day already gone, you have until October to e-file.

Continue to keep reading on how to file your 2019 taxes.

Important dates to remember

  1. July 15, 2020:
    The last day to file and pay your 2019 taxes without accumulating tax penalties.
    It is also the last day to file for a tax extension.
    The final day to postmark your 2016 tax refund.
  2. October 15, 2020:
    The last day to file extensions and to electronically file your tax return to the IRS.

Am I subject to penalties?

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