Stimulus Payments EIP payments and forms

Posted at: January 08, 2021

Looks like this season is going to get off to a crazy start.

The Economic Recovery Payment 2 paid end of December 2020 / First of January 2021. WILL BE reconciled on their 2020 tax return. So the "$600" payment will be paid on their tax return as a refundable credit if they have not received it by the time they file their tax return. The form Worksheet 8 will be updated in the next couple of days.

The IRS has provided information and a lookup tool. IRS.gov You will have to know what they received to calculate their returns correctly or the return will surely be rejected.

If you used TPG last season you need to read the announcement they sent to you.

This year the system is emailing codes and password resets. The email comes from noreply@wolterskluwer.com. Please make sure you check your spam folders and you can also make @wolterskluwer.com a safe sender so that the emails deliver to your inbox.


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Author: Mike Steele

Serial entrepreneur since 1994. Tax preparation and tax software have been my passion over the years. Bringing value to my customers has always been a priority. If it’s not great, keep trying.

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