@SMPII wrote:
As I suspected. SO it is not a GIFT, like they have given tax dodging companies (fortune 500's) it is a loan in lean against our 2020 tax return. This is priceless. These companies dodge taxes, they won't pay anything back in, they didn't pay in to begin with. Taxation without representation at its finest.
It is not a loan. The Stimulus Check is really based on your 2020 return we are filing in 2021. So any amount you already got will be reconciled on your 2020 return line 30. If you qualify for more it will be added to your return. But the good news is if they paid you too much they won't take it back.
See this thread, it has good information and a screen shot
https://ttlc.intuit.com/community/after-you-file/discussion/i-filed-an-amended-return-for-2019-to-se...
See these 3 IRS questions on reporting it on your 2020 return
https://www.irs.gov/newsroom/economic-impact-payment-information-center-topic-j-reconciling-on-your-...
