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Client's husband died 3/22/20. She received the full first EIP of $2400 on4/15/20. She received only $600 for the second EIP on 2/5/21. The Recovery rebate worksheet indicates she is due another $600. Is this correct or does she need to pay back her husband's share of the first EIP ($1200)?
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I believe that IRS said they have to pay it back. However I have seen several sources that say there was nothing in the original legislation that authorized the IRS collection of the overpayments. (Hoping I used the correct wording,)
There are articles quoting credible sources, including a former IRS Taxpayer Advocate, that claim there is no return requirement.
She is still filing a Joint return for 2020, I see no reason that she would not qualify for the Credit of the second $600, I would file it that way and see what happens.
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The additional $600 is correct.
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If they died in 2020, theyre entitled to the full RRC.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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If I am wrong please correct me anyone on this post, but I thought the IRS has already stated that if an individual received more than they were supposed to, based on the actual 2020 return, that they did not have to pay that back on their 2020 tax return? Am I right about this or wrong?
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♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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Thanks Lisa... I think that is the way Pro Series is Computing this also...