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  • Noman Fayyaz

2021 Tips for taxpayers to make filing easier-Recovery Rebate Credit

  • File electronically and use direct deposit for the quickest refunds.

  • Check IRS.gov for the latest tax information, including the latest on Economic Impact Payments. There is no need to call.

  • For those who may be eligible for stimulus payments, they should carefully review the guidelines for the Recovery Rebate Credit. Most people received Economic Impact Payments automatically, and anyone who received the maximum amount does not need to include any information about their payments when they file. However, those who didn't receive a payment or only received a partial payment may be eligible to claim the Recovery Rebate Credit when they file their 2020 tax return.

  • Remember, advance stimulus payments received separately are not taxable, and they do not reduce the taxpayer's refund when they file in 2021.

source: www.irs.gov

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