During 2020 (and into 2021), taxpayers were eligible for two rounds of economic stimulus payments – the first having paid out around April / May 2020, and the second paying out primarily in January 2021.  With that being said, the IRS has a message for anyone who hasn’t yet received one or both payments:  they’re done sending payments, so don’t expect anything more from them.

The good news is, if you have not received one or both payments yet, all hope is not lost!  Through a reconciliation process included as part of your 2020 income tax filing, your tax refund may be increased by the amount of any stimulus payment to which you were entitled but did not receive.  This may result in additional stimulus funds (in the form of an increased refund) for taxpayers who got married during 2020, added dependents, or had an income drop from 2019 to 2020.  Each of these situations may very well result in you getting a larger refund than normal, all because of the inclusion of stimulus funds which you haven’t already received.

The take-away from all of this is that you shouldn’t despair if you’re still waiting for stimulus funds to arrive.  Instead, gather up all of your 2020 tax documentation as soon as possible, and make an appointment to see us!  We’ll be sure you get all that you’re entitled to, including any “missing” stimulus funds!