Missing Stimulus Check on Your 2020 Tax Return?
I know many people are wondering about their stimulus checks. I waited a long time. All this time has gone by, but I finally received one! I found out later that there are more scheduled, but as usual, ‘something’ comes up to put a hold on this much-needed financial assistance.
If you have not heard anything like this by now, here’s an article that describes the Rebate Credit because it’s important information to know. This article is from the AARP website and gives pertinent information on what, when, and how to retrieve your Recovery Rebate Credit.
Stimulus Check? Claim the Recovery Rebate Credit
The article Recovery Rebate Credit states “Technically, stimulus payments are an advance on a tax credit for the 2020 tax year.” The IRS calls this credit the Recovery Rebate Credit. Unlike a tax deduction, which reduces your taxable income (and therefore your tax payment), a tax credit reduces the amount of tax you owe, dollar for dollar.” Even better, and unlike most credits, the Recovery Rebate Credit will “give you money back even if it’s more than the tax you owe or paid. This information and more are found on the AARP website. Click here or above on the links to get more details. It’s worth the read to know what to do if you haven’t received your Stimulus Check yet.
Finally, this article tells how soon you’ll receive your stimulus check based on who you are. I hope this helps. If you have any questions, please feel free to leave a comment below. If you have any questions, please feel free to send an email or leave a comment below.
Good luck and God Bless.
New Jersey Alzheimer’s Advocate