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Filed 2019 taxes on 04/15/2020, Will my stimulus be based on 2018. My pay was halved in 19.
Hi all,
I planned on filing my taxes on the original tax day as I owed ~$2,000. Well, on that same day all my friends and family were receiving their "returns". I was shocked I did not receive one as well. I thought 2018 was used for direct deposit information... nothing else. The communication was inconsistent and difficult to get a straight answer. I should have started here. I was laid off in 2018 so my income higher than it has been over the past 10 years. I was given a nice severance for almost 15 years of loyalty. However, according to 2019 taxes I qualify for the full amount plus the money for 4 children. I, like most in this time, need the extra shot in the arm due to a reduction in hours. Will the IRS rectify this situation?
tldr; for example, as a married filing jointly couple with 4 kids our income was $200,000 in 2018. In 2019 it was less than $100,000. Did filing 4/15/20 ruin any chance for a much needed stimulus check?