No. The $1,200 is not an advance on your tax refund. It was a separate payment the government made in 2020 due to the coronavirus pandemic. Most people received the $1,200 last year by check or direct deposit. Those who did not will get the money added to their tax return.
The $1,200 will not increase or decrease your tax refund either way. But it will change the amount of money the IRS will give you when you file your taxes.
If you got the $1,200 stimulus payment last year, then it’s not included in your total return. If you did not get a check or direct deposit last year, then an extra $1,200 is included in the money you will get when you file taxes.
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