The Blended tax rate is a determined by the your income tax divided by your adjusted gross income.  So you could effectively have the same or about the same amount of income year over year and have a higher blended rate tax rate due to the make up of your income.  If you have capital gains, they are taxed at a different rate then ordinary income.  If you have self employment income, there is additional self employment tax associated with that.  If you had a dependent that turned 17 or maybe did not pay as much child care, losing those tax credits will increase your tax amount and thus the effective or blended tax rate.   I would recommend reviewing your 2019 and 2020 returns side by side and see if: Were there any changes in the composition of your total income.  Did the types of income change.  Did your total income go down or up. Review your tax credits.  Was the amount less for 2020. Review you tax amount.  If you earn more income, you will be pushed up into higher marginal tax brackets which will result in a higher blended rate. Click Here for some more information on effective tax rates ... View more

You will need to report on your 2020 tax return what is included in box 1 of your 2020 1099G.  There are many instances where overpayments from the Pandemic Unemployment Assistance are being waived by the states.  I would recommend including in income what is reported on your 1099G and if you are later deemed to owe those amounts back in a later year, here are your options:   Repayment of $3,000 or less - If the income was reported as wages, unemployment, or other nonbusiness income, no deduction is allowed.   Repayment more than $3,000. The taxpayer can choose to either: Claim a deduction. If the amount is another itemized deduction, report the deduction on line 16, Schedule A (Form 1040),or Claim a credit. Claim a credit for the amount repaid by calculating the tax from the earlier year without the income that was later repaid. Subtract the recalculated tax from the tax shown on the original return and report on line 13, Schedule 3 (Form 1040). In the 1099G unemployment benefits input screens in TurboTax, you will be lead through the process of entering any repayments you made in subsequent years. Click HERE for more information on entering Unemployment Benefits in TurboTax ... View more

It depends. If your settlement document (also referred to as closing document) is signed and dated before the end of 2020, this would be considered a 2020 refinance. I would recommend that you inspect the documents that you signed on December 29 to confirm that these are in fact closing documents.    If you are unsure of the date, you should contact your loan administrator or servicer, or your monthly mortgage statement. You may also find this information on Form 1098, box 3.  See this link for more information. Where do I enter my 1098 mortgage interest statement...   Also, you can refer to IRS Publication 530, page 5 for more information.     ... View more

It depends. You can check your payment status here by clicking the Get My Payment button from the IRS.   If you don’t receive the  stimulus payment or the correct amount of stimulus payment, you can claim the Recovery Rebate Credit when you file your 2020 taxes and it will provide the same amount of payment as the stimulus would have. TurboTax will guide you through this when you prepare your return. ... View more

If you are on the screen Did you get a stimulus payment? in TurboTax, can you provide more information about your situation? Your stimulus payment is based on your marital status, the number of qualifying children and your Adjusted Gross Income. TurboTax is deals with both stimulus payments, so if you received a first payment, that amount would be used in the calculation. ... View more

No, it looks like the IRS will not be issuing paper checks to those people whose account numbers have changed.   According to the IRS, "If the second Economic Impact Payment was sent to an account that is closed or is no longer active the financial institution must , by law, return the payment to the IRS, they cannot hold and issue the payment to an individual when the account is no longer active. The IRS advises people that if they don’t receive the full Economic Impact Payment they should file their 2020 tax return electronically and claim the Recovery Rebate Credit on their tax return to get their payment and any refund as quickly as possible."  ... View more

Here's an explanation of what happened. At this point,  TurboTax has provided the IRS with your correct account information, and the IRS is working to send your payment to you within days. Please see  this article. ... View more

This is the available contact information for the TurboTax VISA Debit Card. If there is a phone number on the back of your card, you could try that. I would caution you not to provide any identification information via email, because it could be a fraudulent attempt to gain access to your account. ... View more

For the second stimulus payment, there isn't anything for you to do, because it will come automatically. But if you don't get one or both payments, you can claim the Recovery Rebate Credit when you file your 2020 taxes and it will provide the same amount of payment as the stimulus would have. TurboTax will guide you through this when you prepare your return.    This is what the IRS says : " The IRS is working hard to deliver the second Economic Impact Payment quickly, as required by law, while still preparing for the upcoming 2021 tax filing season. Due to the compressed timeline, the IRS is unable to reissue and mail checks and instead encourages people to file their 2020 tax return electronically to claim and receive the Recovery Rebate Credit quickly as possible." ... View more

The IRS hasn't provided an answer to this question, and there's no real way to find out. The IRS website says "People should visit IRS.gov for the most current information on the second round of Economic Impact Payments rather than calling the agency or their financial institutions or tax software providers. IRS phone assistors do not have additional information beyond what's available on IRS.gov." ... View more