04-16-2020, 09:00 AM
(04-16-2020, 01:18 AM)NATI BENGALS Wrote: My local news disagrees. Surprised our federal government is doing so well getting a clear message out...
https://www.fox19.com/2020/04/15/no-you-dont-have-pay-government-back-your-stimulus-check/
"The rebates are not an advance of a refund a taxpayer would have gotten otherwise.”
So, I've read the bill, now, and I have to say I made assumptions based on how these things usually work. Usually with a stimulus payment, they refund is a pre-payment of the refund you would get when you file your taxes. This is what we have seen in the past. In this scenario, though, Congress created a new credit for your 2020 taxes to be paid immediately. So I do stand corrected; it appears it will not have to be paid back. This is in Section 2201 of 116 H.R. 748, in case anyone is interested in reading it, themselves.
"A great democracy has got to be progressive, or it will soon cease to be either great or a democracy..." - TR
"The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little." - FDR
"The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little." - FDR