it'll work itself out, but may not until you file next year. Here is why.
- The stimulus payments are really based on your 2020 tax return (income, dependents, etc).
- The IRS is using either 2018 or 2019 – whatever is available - to ESTIMATE that payment
- When you file next year there will be a “settle up” section on the tax return.
- If you are due more stimulus (and this would include where you simply never received it), you will receive it through the 2020 tax filing.
- If you received too much, by law, you are not required to return it
the only way you wouldn't get the rebate from what you described is if the IRS uses the 2018 income now and your 2020 income makes you ineligible.
does that make sense?
