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Home / Tips and Tricks / What does a stimulus check have to do with taxes? Everything. Here’s what to know

What does a stimulus check have to do with taxes? Everything. Here’s what to know


Taxes and economic reviews are closely related. We’ll show you how.

Angela Lang / CNET

If you have that first stimulus test from up to $ 1,200Does that count as income when you file your taxes next year? Based on electricity negotiationsthat could change with a second review? And what if your income is different between your first check and a second check?

Your 2018 and 2019 taxes will play an important role in the amount of your stimulus checks from the IRS. They help determine how much money are you entitled to and who even qualifies for a direct payment primarily from dependent persons to adult and Seniors and Retirees.

We can help you answer your questions about the consolidation of tax returns and business cycle reviews. And here are those The most important thing to know about stimulus checks a total of.

Look at that:

Next stimulus checks: what to expect


Can I be taxed on my short-term payment?

No, a Stimulus payment does not count as income and you will not owe any tax on it, the IRS said.

How do taxes determine the size of the stimulus check?

The IRS uses the Adjusted Gross Income or AGI, from your 2019 tax return (or your 2018 tax return if not filed in 2019) to calculate your payment scale. Your AGI may differ from your annual salary or take-away pay due to various factors.

The income limits that decide exactly How much of the $ 1,200 per adult does your household get? – and if you are qualified to receive a check first and foremost – come straight from AGI for your past taxes, not necessarily your income at the time of the checks.

What if my AGI was changed from my 2018 taxes to my 2019 taxes?

If you filed your 2019 tax return before April 15, 2020, the IRS used your reported AGI to determine the amount of your first payment. If you didn’t file in 2019 but did file in 2018, that’s the year the IRS used it. A second review is likely to follow the same protocol if and when this happens.

What if I’ve lost my job or got a new one since filing taxes? Could I still get a stimulus check?

If your financial situation has changed after filing your 2018 or 2019 tax return – for example, you received less income – you can claim that additional amount on your 2020 tax return when filing 2021. You will likely need to take an extra step to claim your credit – the IRS will post more details closer to the 2020 tax season.


The IRS uses your current tax returns to calculate the amount of your business stimulus payment.

Angela Lang / CNET

Can my 2019 taxes help me get a second check faster?

If you filed taxes in 2018 or 2019 and provided direct deposit information, the IRS will try Deposit your check in the bank account you specified on your tax return. If you typically get your refund by check in the mail, the IRS has provided a tool that allows you to use your banking information to receive an electronic deposit.

The deadline to use this tool was mid-May, but the IRS would likely reopen it in case a second stimulus check is done.

Does this year’s stimulus payment affect how much I owe next year’s taxes?

Receiving a payment this year will not reduce your future tax refund or increase your debt when you file your 2020 tax return next year. The payment also does not count as income to determine if you are eligible for government assistance or benefit programs.

Do I have to pay the money back if I qualify for less with next year’s taxes?

You don’t have to repay a business stimulus payment if you no longer qualify for the amount received based on your 2020 tax return.

Will the IRS reroute my short-term payment to cover the taxes I owe?

If you owe federal taxes or have any other federal debt, the IRS won’t cut your stimulus payments to cover them, with one exception we know of. If you owe overdue child child support payments, the IRS will offset your payment to cover those costs.


If you didn’t have to file a tax return, you can still qualify for a stimulus review.

Angela Lang / CNET

Can I use my 2020 tax return to claim any incentive money the IRS owes me?

The IRS will use your 2019 tax return if you filed it (or your 2018 tax return if you didn’t file one in 2019) to determine the amount of your payment.

If a change in your financial situation was not taken into account in your 2018 or 2019 tax return – for example the birth or adoption of a child – you can claim this additional amount on your 2020 tax return when you file in 2021. This can include an additional $ 500 for one qualifying dependent that was owed but not delivered with the first check. The Deadline for receiving a missing payment This year was September 30th for Eligible Family members.

If I didn’t pay tax, could I still qualify for a payment?

If you didn’t have to file a 2018 or 2019 tax return because you were below income or receiving federal benefits like social security, you can still qualify for a payment. The IRS reported recently that up to 9 million who fall into this non-filter category can owe a payment. You can use the IRS non-filer tool to determine if a payment is due and you have until October 15th to receive payment that year. After October 15, you can claim it in your 2020 tax return next year.

For more, here’s what you need to know about stimulus checks, if you have one Receive SSDI benefitswho else could be Entitlement to a second stimulus payment and what other benefits might be part of it another aid package.

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