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New Notice for your 2020 Tax Return Regarding Economic Impact Payments

If you received an Economic Impact Payment in 2020 you will receive a Notice 1444 which states the amount of the payment you received. You want to save this notice to refer to it once you go to file your 2020 tax return. This notice specifically provides information about the amount of the payment, how the payment was made, and how to report any payment that wasn’t received.

Saving this notice is also important because when you file your tax return you may be eligible for a Recovery Rebate Credit. People who didn’t receive an Economic Impact Payment in 2020 may qualify for the Recovery Rebate Credit.

This form should be kept with all your 2020 tax documents and submitted to your tax preparer when you go to file your 2020 tax return.

Please consult your tax advisor on all the above information.

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