LenaH
Employee Tax Expert

After you file

Once you entered all of your income, it sounds like your tax bracket went up or you did not withhold enough taxes on the rest of the income you entered. Refunds or taxes due can change with every additional input on your return. What you see after you input your first item will typically not be the final result. In addition, the Recovery Rebate Credit is based on your total income for 2020. 

 

Per the IRS, your Recovery Rebate Credit amount will be phased out if your adjusted gross income for 2020 exceeds $150,000 if you are married filing a joint return or filing as a qualifying widow or widower, $112,500 if you are using the head of household filing status, or $75,000 if you are using any other filing status.

 

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