Economic Impact Payments Issued by January 15, 2021
If your EIP does not arrive by January 15, 2021 or shortly thereafter, if it is sent out as a debit card or paper U.S. Treasury check, then it will not be issued automatically. The payment will have to be claimed when the taxpayer files their 2020 tax return this year.
It is the law, not the IRS' decision: The distribution deadline actually is in the bill that was signed into law on December 27, 2020:
Excerpt from page 785 of H.R. 133, the Consolidated Appropriations Act, 2021, and with the presidential signature on Dec. 27, 2020, soon should officially become Public Law 116-253.
So far, the IRS has acted quickly, with EIP issuance beginning on December 29, 2020. Some people did receive their stimulus payment before the New Year arrived.
How to get missing EIP amounts: The taxpayer will have to wait for the tax filing season to start in order to file for the refundable payment. IRS Commissioner Chuck Rettig last fall told Congress that he expects his agency, even with all the added COVID-related complications, to start the 2021 filing season on time.
That is generally the last week of January, but no official date has been announced as of this writing. We will let you know as soon as the IRS announces an official date it will start accepting and processing 2020 tax returns.
IRS Notice 1444, will be needed in order to calculate how much more the taxpayer is due in connection with their 2020 tax return filing. The Form 1040 instructions, which are being updated will have a worksheet.
The final calculation will be reported on line 30 of your Form 1040 or 1040-SR:
