Quote:
Originally Posted by bigdog
Completed my taxes and getting a refund, plus Stimulus money I missed out on last go-round because 2019 AGI pushed me over the threshold to qualify.
I'm using HR Block tax software, and at the end of form, it does ask questions regarding COVID-Stimulus money received or not. This time I qualify for 2020 tax year period.
Joey2665....
I believe there was mention in this Post about whether to file 2020 tax return early, or wait until it is determined when next COVID-Stimulus money (yet to be passed by Congress) is passed before filing tax return ?
Does it really matter that much ? I'll assume the disbursement of stimulus money will be based on your 2020 tax return figures ?
Thoughts ?
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No it doesn’t matter. As you your 2020 stimulus was corrected once you filed the 2020 return, the same will be for 2021.
In other words if you receive the stimulus check in January and it ends up that you do not qualify you will have to pay it back when you file your 2021 tax return conversely if you didn’t get the credit and you subsequently qualify you’ll receive a credit when you file your 2021 tax return. So at the end of the day it doesn’t matter when you file your 2020 return it’ll all come out in the wash when you file 2021.
Wow I really need to get paid for all this free advice [emoji23][emoji23][emoji23][emoji23][emoji23][emoji23][emoji33]
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