With the ongoing COVID-19 outbreak, taxes may not be at the top of your mind. Even if they are, you may not want to travel outside your house for tax preparation help. Here’s what you need to know to file your taxes in 2020.
Last year, hundreds of organizations engaged in the vitally important and difficult task of helping households who don’t usually file a tax return get their stimulus checks. Today, there are still eligible people who haven’t gotten their money and may...
Economic Impact Payments (EIPs) or “stimulus checks” have been a lifeline for many people with low incomes who have received them. Unfortunately, many people experiencing homelessness may miss out on the payment because they need to file an online form with the IRS to get it.
If you didn’t get your first or second stimulus check, don’t worry — you can still claim the payment in 2021 as a tax credit. The stimulus checks are a federal tax credit for the 2020 tax year, known as the Recovery Rebate Credit. You can claim the Recovery Rebate Credit by filing a tax return in 2021 for Tax Year 2020.
On September 24, 2020, a federal judge issued an order requiring the Internal Revenue Service (IRS) to stop withholding stimulus checks for incarcerated individuals. The judge also ordered that any stimulus check that was withheld, intercepted, or returned based on an individual’s incarcerated status needs to be reprocessed by October 24, 2020.
One eligibility requirement to get the first and second stimulus check is that you cannot be claimed as a dependent on someone else’s tax return. If you didn’t receive your stimulus checks because you were wrongly claimed as a dependent on a 2019 tax return, you can file a 2020 tax return in 2021 to get your stimulus payment(s).