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The stimulus is also technically a loan against your 2020 tax refund. As someone who's overseas and pays no US tax right now, the stimulus looks like a liabilit
by wiredfool 6y ago
The stimulus is also technically a loan against your 2020 tax refund. As someone who's overseas and pays no US tax right now, the stimulus looks like a liability in my account, rather than a help.
- GrinningFool 6y agoThis is kind of correct, but a bit misleading. It's an advance (loan) against a credit that will be applied to your 2020 taxes. So if you could somehow decline the stimulus check, you could then apply the credit to your 2020 tax bill next April. But there is no path by which you'd repay it as a loan received. - If you were getting a $0 tax bill, you'll still have a $0 tax bill - If you owed $1500, you'd still owe $1500. - If you overpaid 1500, you'd still get a $1500 refund.
- wiredfool 6y agoThat's not what my accountant has said.
- GrinningFool 6y agoI'd be interested in hearing more; I haven't been able to find anything that isn't a variant of what I posted earlier.