Richard Rubin
speaker
1,496 appearances
29 recordings
1 series
first heard Oct 2017
last heard Jan 2024
Richard Rubin’s voice in public audio — every appearance, attributed to the second.
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Appearances
that to get topped off in two ways.
One is after you file your 2020 return, the IRS can make a sort of supplemental payment sometime in the summer, maybe.
So you might have to wait a few more months.
And on top of that, it's just like the same process we're going through this year, where when you file your 2021 tax return, if you somehow qualify for more based on your 2021 income, you're
then you do based on whatever check you got, then you can top it off then a year from now.
So there are some advantages to getting that 2020 filing in if it would help you, but you won't necessarily lose out on something.
The reverse situation is worth thinking about too.
There are people who would do better to have the payments based on their 2019 income.
Imagine a situation where...
you would get more money based on your 2019 return.
Say you did better in 2020, made more income, and once you file that, they're going to say, oh, this person is not eligible.
Then you'll have an incentive to wait and have the IRS base the payment on the 2019 return.
We've talked about they're not going to claw that back once they get your 2020 or 2021 return.
There's a lot to think about really in that timing.
Obviously, the regular tax filing season deadlines apply.
So you still do have to file or pay and file for an extension by April 15th.
Tax filing opens February 12th, this coming Friday, and the IRS has nothing from anyone on 2020.
And so if you want your check based on 2020, you might have an incentive to file your tax return pretty quickly after February 12th.
Right.
Congress hasn't released all the final details.
Showing 561–580 of 1,496 · page 29 of 75
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