Important Information From the IRS For Taxpayers
In advance of tax filing season, Congressman Patrick McHenry (NC-10) and his staff are sharing important information from the Internal Revenue Service (IRS) regarding filing federal taxes and what to do if you did not receive your full Economic Impact Payment (EIP).
The IRS is urging taxpayers to file their 2020 federal returns electronically. COVID related conditions affecting IRS mailrooms and facilities that process paper returns are expected to cause substantial delays in processing and issuing refunds for returns filed by mail. However, electronically filed returns will be processed in a normal and timely manner. Click here for information about free electronic filing options. The latest IRS fact sheet with information and advice for filing 2020 returns can be found by clicking here.
Additionally, if you did not receive your full Economic Impact Payment (EIP) from last year or this year, you can use the Recovery Rebate Credit on the 2020 Form 1040 or Form 1040-SR to claim any amount you are eligible to receive but did not. Even if you do not have a filing requirement, you can still file a 2020 return for the exclusive purpose of seeking the rebate payment. Details about claiming the Recovery Rebate Credit can be found at the following links:
Recovery Rebate Credit | Internal Revenue Service (irs.gov)
2020 Instructions PDF
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