qbteachmt
Level 15

I'm not sure what this means: "wants to file immediately unless the rare case comes up where they made more then 2019 in hopes of qualifying for the stimulus"

Another person on this forum made a similar comment, which reflected a confusion between the Earned Income Credit and the Stimulus, which is Recovery Rebate Credit.

The EITC has the 2019 lookback provision.

 

The Stimulus money does not.

Perhaps it would help to review what is really happening:

The funds were paid out as Advanced payment against a projection. The projection used 2018 or 2019 tax returns. But 2020 is the Actuals. You use the 2020 return to reconcile what a person is entitled to, against what they got.

If the person is not a dependent in 2020, then they would be entitled to the payment/credit as individual filers. That doesn't mean "not being claimed." It means "no longer qualifies as a dependent."

You might want to bookmark these links and read the IRS guidance.

Interactive wizards portal for determining dependency:

https://www.irs.gov/help/ita

And:

https://www.irs.gov/newsroom/economic-impact-payment-information-center-topic-a-eip-eligibility

https://www.irs.gov/coronavirus/second-eip-faqs#Eligibility

One for each EIP.

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