In most cases, you don't have to do anything to get your stimulus check
until after the IRS has issued your payment, forcing the organization to use your 2018 income for your payment.
Waiting to file has a few downsides, like waiting longer to get your refund and giving potential identity thieves more time to try and prey on your taxes. However, public accountant Riley Adams , if you'd qualify for a stimulus check under your 2018 income but not at all under 2019, it might be worth holding off filing for a few weeks .These payments are treated differently than your . Typically, you can have your refund seized if you owe back taxes, but that's not the case here. Even people with tax debt should be getting a stimulus payment if they're under the income thresholds.
and can be claimed regardless of whether you itemize your deductions. Some tax credits, like the coronavirus recovery rebate, are refundable. That means you'll still get the money even if you don't have enough tax liability to offset. any of the money if you wind up getting too much.While it won't help you today, experts say the IRS will allow taxpayers to reconcile underpayment on next year's tax return.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
IRS backs down and won't require Social Security recipients to file tax returns for stimulus checksThe Treasury Department and Internal Revenue Service announced on Wednesday night that Social Security beneficiaries who receive 1099 forms will not have to file tax returns to get government stimulus checks. The announcement reverses guidance the IRS released earlier this week.
Read more »
Treasury backs off requirement that Social Security recipients, others take extra step to get $1,200 checksThe Treasury Department now says Americans who don&39;t file taxes can still receive a $1,200 coronavirus stimulus check without taking extra steps.
Read more »
IRS reversal: Social Security recipients can automatically get stimulus checks without filing returnsThe IRS has reversed course to eliminate a controversial requirement on Social Security recipients seeking stimulus checks as part of the government's coronavirus response package.
Read more »
Paying down debt may not be the best way to use your coronavirus stimulus checkPaying down debt may not be the best way to use your coronavirus stimulus check investinyou (In partnership with acorns.)
Read more »
Bank of America's small business loan portal is up, making it the first major bank to begin relief program“What we’re doing here is keeping people employed, keeping doors open,” House Minority Leader Kevin McCarthy says about the $350 billion small business relief program.
Read more »
Google's misinformation lead talks pandemic fact-checking - Business InsiderGoogle is giving $6.5 million to support fact-checking organizations fighting misinformation around the coronavirus.
Read more »