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Claim it on your taxes... the $1200 was just basically a tax credit given ahead of time. If you qualify, you can claim it in January... won't help you today :(
by WrtCdEvrydy 6y ago
Claim it on your taxes... the $1200 was just basically a tax credit given ahead of time. If you qualify, you can claim it in January... won't help you today :(
- pc86 6y agoBut they don't qualify, that's the point. If you have an ITIN you don't qualify for this kind of tax credit.
- jkaplowitz 6y agoThe rules are even weirder than that. The advance tax credit doesn't have to be repaid even if 2020 income makes one qualify for a smaller amount than actually received or for no payment at all. But if 2020 income is low enough to qualify for a higher payment, you do get to claim the difference on the 2020 tax return. Even weirder, if your payment would be different between 2018 and 2019 income, the actual payment the law granted earlier this year depended on which returns had been filed at the time the IRS determined eligibility, with no adjustment for subsequent filings. I qualified for my full payment based on my 2018 income, would not have qualified for anything based on my 2019 income, and did not expect to qualify for 2020 either (although the impact of the pandemic means I actually would). I made sure not to file my 2019 tax return until after I got my payment. Very badly designed legislation, though there may not have been much alternative if they wanted to act quickly.
- WarOnPrivacy 6y agoWell huzzah for year over year poverty. Being caught outside of the spotty economic recovery (trumpeted by media+pols as being widespread and holistic) finally paid a dividend.