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Should i wait to file 2020 taxes until 3rd Stimulus payment comes out?
I have received both my 1st and 2nd coronavirus stimulus payments. Both were based on my 2019 tax return. I had a higher income in 2020 and thus would almost certainly qualify for a reduced stimulus payment if the IRS based the payment on my 2020 return. I figure that Congress and the President will agree on something that would have the IRS issuing payments before April 15th (by which time I'd need to file my 2020 return). If so, I assume they'd still use my 2019 tax return to determine the payment if I haven't yet filed my 2020 return and I'd thus get a higher stimulus payment. Is anyone else in the same situation and if so, are you reading this the way I am and delaying filing your taxes? Does anyone know if this would work the way I'm thinking it would?