Really, WTFFFFF is that gonna do?
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My understanding of the way it works... the $1200 is basically an advance on a refund credit one would receive when filing 2020 taxes. Essentially, if you file 2020 taxes and you were supposed to get a $1500 refund, that is decreased to $300 since you received this $1200 in advance.
Can anyone confirm? That is what I gathered
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Originally posted by whitetailtrail View PostMy understanding of the way it works... the $1200 is basically an advance on a refund credit one would receive when filing 2020 taxes. Essentially, if you file 2020 taxes and you were supposed to get a $1500 refund, that is decreased to $300 since you received this $1200 in advance.
Can anyone confirm? That is what I gathered
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Just some questions. I don’t get any of this “free” money. I am one of the ones who has to pay for the “free” money.
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Originally posted by RdRdrFan View PostI hadn’t heard that part. How would they “get it back” from the folks that don’t pay taxes? Or those who don’t loan the government money by overpaying throughout the year.
Just some questions. I don’t get any of this “free” money. I am one of the ones who has to pay for the “free” money.
That I do not know. Perhaps it would just help them recoup some of the payout. I could be off base so I will try to research further.
My spouse and I qualify for the “free money”. We do pay taxes also. Just don’t make enough to be exempt due to the arbitrary income levels the government selected. If someone qualifies it doesn’t mean they don’t pay taxes..
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