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IRS Updates the 2021 Recovery Rebate Credit Fact Sheet FAQs

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In their ongoing efforts this season to better assist tax professionals and as a follow-up to an earlier communication, Partner Support is sharing the latest updated 2021 Recovery Rebate Credit Frequently Asked Questions (FAQs) Fact Sheet published yesterday, February 8, by the IRS along with the associated news release.    

Fact Sheet FS-2022-09 – Updated February 8, 2022 – 2021 Recovery Rebate Credit (RCC) Frequently Asked Questions

  • New for 2022, these IRS Fact Sheets are an excellent one-stop document containing the most frequently asked questions (FAQs) organized by topic, plus additional information and links to related resources. The IRS keeps them updated often so that you have the latest information as you prepare returns for your clients.

We continue to encourage our partners to review these FAQs and to follow the instructions and guidance provided by the IRS that is applicable to your client.  

IRS News Release IR-2022-28, February 8, 2022

WASHINGTON — The Internal Revenue Service today updated frequently asked questions (FAQs) for the 2021 Recovery Rebate Credit.

These FAQs (FS-2022-09 PDF) were updated:

  • 2021 Recovery Rebate Credit — Topic A: General Information – Q3
  • 2021 Recovery Rebate Credit — Topic D: Claiming the 2021 Recovery Rebate Credit – Q1, Q2, Q6
  • 2021 Recovery Rebate Credit — Topic F: Receiving the Credit on a 2021 Tax Return – Q8, Q9
  • 2021 Recovery Rebate Credit — Topic G: Finding the Third Economic Impact Payment Amount to Calculate the 2021 Recovery Rebate Credit – Q2

These FAQs are being issued to provide general information to taxpayers and tax professionals as expeditiously as possible.

More information on the Recovery Rebate Credit is available on IRS.gov.

Important Reminders! First and Second Recovery Rebate Credits that were not received cannot be claimed on the TY2021 return and instead, must be claimed on a TY2020 return. 

If you didn’t get the full first and second Economic Impact Payments, you may be eligible to claim the 2020 Recovery Rebate Credit by filing a new or amended 2020 tax return.

If you didn’t get the full third Economic Impact Payment, see Questions and Answers About the Third Economic Impact Payment – Topic H: Reconciling on Your 2021 Tax Return.

Additional IRS Resources – Recovery Rebate Credit:

(Previously Shared) IRS News Release IR-2022-19, January 26, 2022 | Español

  • All Third Economic Impact Payments Issued; Parents of Children Born in 2021, Guardians and Other Eligible People Who Did Not Receive All of Their Third-round EIPs can Claim up to $1,400 per person through the 2021 Recovery Rebate Credit

Thank you, 

The Partner Support Team 

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