The common info on the web is that you typically don't have to repay stimulus checks, if it turns out that you shouldn't have gotten them, or only partially gotten them.
What if someone files a 2020 return now (Mid of February 2020), with a reported income below the cutoff, the filing gets accepted and he gets both 2020 stimulus payments.
After that, he 'realizes' that he 'forgot' a chunk of income, and files a correction (1040-X), let's say in early April. If the correction pushes him over the stimulus check cutoff point, would the IRS request the stimulus payments back too? (of course there is more tax to pay for the higher income, ignore that)
Would even trying it be tax fraud? After all, who could prove if he really forgot it in the first filing or just pretended to?
Update / Background: what happened is that in Mar 2020, when stocks were 40% down, they did a huge IRA to Roth IRA conversion. Seemed to be a great idea at that time - nobody knew stimulus would come. Now they cheated themselves out of both stimulus checks; unemployed and out of cash, and no way to undo the conversion...
Life's a bitch.
[this is posted from a single-use secondary ID, for anonymity]