Quote:
Originally Posted by joey2665
Yes. Your income 2020 would need to be below the new threshold they set for this upcoming payment. It might be the same threshold as 2019 or not. We won’t know until the bill is signed.
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Joey,
What I find interesting and strange, the IRS appears to date, to be using only 2019 tax return as the baseline and those amounts for determining if you qualify for any stimulus money. If that's the case I wouldn't qualify because I am over the threshold amount.
That said, if they start sending new stimulus checks based on the 2019 return, as they did before,
I would miss out on any new stimulus checks, based on the above reason.
However, based on my 2020 income I would qualify.
I wonder what tax year filing, the IRS will base any new stimulus checks ?
Use the 2019 tax return as they did in the past, or actually use you 2020 Return if filed ?
Guess we'll have to wait and see ? TBD ?