The Recovery Rebate Credit: Get Your Full Stimulus Check Payment With This Tax Credit
The "recovery rebate" tax credit and stimulus checks are two parts of the same thing. The way the law is written, both the first ($1,200) and second ($600) stimulus checks were simply advance payments of the credit. So, if the combined total of your two stimulus checks (i.e., advance payments) is less than the recovery rebate credit amount, you may be able to get the difference back on your 2020 tax return in the form of a larger tax refund or a lower tax bill. If your stimulus checks exceeded the amount of the credit, you don't have to repay the difference. So, either way, you win!
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This helps Americans who either . And, in some cases, even a person who received both a $1,200 first-round stimulus check and a $600 second-round stimulus payment can claim a recovery rebate credit that boosts their refund or reduces the tax they owe. So, even if you're not
