Other financial discussions

I don’t see how it could be an issue, unless we use TT to file in 2021 and the glitch pops up again.   But I’ll de damned if I use TT! 

The stimulus check isn’t a 2019 thing, it’s a 2020 thing—more specifically, it’s a 2020 tax-year thing to be claimed in 2021.  The reality being it’s technically an advanced payment for a fully-refundable tax credit, for 2020 tax returns, which are filed in 2021.  Because of this, people who did not receive the advance payment can still claim it as it is legally written—as a credit for 2020 taxes.  Because it was an advanced payment, before 2020 could be filed, all they could do was guesstimate eligibility (for 2020 returns) based on recent prior years’ (2018/2019) returns.  Now, if any of us end up owing a couple thousands of dollars on our 2020 returns, those among us might be out of luck.  But otherwise most of us should be ok.   The legal IRS standing for the stimulus (a 2020 tax-year credit) hasn’t even come to be yet.  

 

I stopped sweating it once I realized how long an (unlikely-to-be-successful) amended return would take to process, if successful, and for a check to be issued.  It’s normally about 16 weeks to process an amended return. That’s prior to Covid delays. I’m just waiting until 2020.  Much less stressed after researching it and deciding to let it be.  But forget TT...they lost my business for life.  And I bet there are people who didn’t get their check who will still use them for 2020 returns and get screwed again.