$104.95 
Learn more
Submitted By: someone
Answered: January 17, 2021 8:10 pm
Answered: January 17, 2021 8:10 pm
Is the new stimulus payment (round 2 for the economic impact payment) based on 2019 or 2020 AGI?
Distribution of the second round of stimulus payments to individuals began early in 2021. The payment amounts were based on 2019 AGI (obviously the IRS does not yet know 2020 AGI because 2020 returns have not been filed). When you file your 2020 return, you may be able to claim an additional amount in the form of the recovery rebate credit, based on your 2020 AGI.
advertisement
Featured Books
Tax Glossary
Private letter ruling
A written determination issued to a taxpayer by the IRS that interprets and applies the tax laws to the taxpayer’s specific set of facts. A letter ruling advises the taxpayer regarding the tax treatment that can be expected from the IRS in the circumstances specified by the ruling. It may not be used or cited as precedent by another taxpayer.
