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Deductions & credits
No, tax rates did not change in 2020. Your tax liability is only part of the equation when figuring any refund amounts. Your tax liability may have been the same in 2020 as it was in 2019 - However, that does not mean your withholdings and tax credits were the same as the previous year. Look at your tax summary or 2 year comparison if you have one if you really want to see how things changed for you and her year to year.
The amount your are eligible to receive is not factored into your tax liability. You qualify for x amount and you get that amount as a tax credit in 2020. If you already received the stimulus payments, you don't get to take the credit. But if you did not get the payments, you get to take the credit.
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‎February 4, 2021
6:42 PM
1,095 Views