Amend Your 2020 Tax Return by April 15, 2024, to Claim Additional Refunds
If you submitted your 2020 tax return by the April 15, 2021 deadline, you have until April 15, 2024, to file an amended return for potential additional refunds. This might be relevant if you utilized the IRS's online tool in 2021, commonly known as the non-filers tool, to claim stimulus payments without realizing you were actually filing a tax return.
The COVID-19 stimulus payments and other programs have created numerous opportunities for additional refunds for the 2020 tax year. Here are some scenarios where you might be eligible:
Unclaimed Dependents: If you missed claiming a dependent, either because someone else had already claimed them or you were unaware that you could claim a newborn from 2020, you could be eligible for a larger Earned Income Tax Credit (EITC) and Child Tax Credit.
Stimulus Payments: There were two stimulus payments in 2020: $1,200 per taxpayer and $500 per qualifying child for the first, and $600 for both taxpayers and qualifying children for the second. If you didn't receive or claim the full amounts, you might be eligible for more.
Using 2019 Earned Income: If your 2019 earned income was higher than your 2020 income, you might qualify for a larger EITC or Child Tax Credit by using your 2019 figures, thanks to temporary IRS rules during COVID-19.
Unreported Income and Withholdings: If you forgot to report income such as retirement distributions, wages, or unemployment, and had sufficient tax withheld, you could receive a refund by amending your return.
If any of these situations apply to you, or if you believe you have another reason to amend your 2020 tax return, make sure to file the amended return by April 15, 2024.
Please note that you may not be able to e-file your amended 2020 return, so it's crucial to ensure it's postmarked by the deadline. We recommend mailing amended tax returns via Certified Mail through the U.S. Post Office to have a postmarked certified receipt with a tracking number. Don't forget to keep this receipt and make a photocopy of your signed amended return for your records.
For assistance with your 2020 amended return, consider reaching out to Campaign for Working Families at www.cwfphilly.org or GetYourRefund.org.
If you have any questions or issues, such as not receiving a response from the IRS or a denial of your amended return, please contact us. Call our intake line at 215-981-3800 between 9:30 am and 12 pm, Monday through Thursday, or apply online at philalegal.org/apply.
