The IRS’s new tax deadline is now just one week away. If you have yet to get your taxes filed, you may want to considerif you think you’ll miss the due date. But do keep in mind that this tax season and are related: If you were eligible for a on your , you could see that additional money with your .
If you don’t plan to file — or you just haven’t done so yet — you could be missing out on extra cash in your pocket. We’ll explain whyis important and how moving it back could affect you. Your tax information is also essential in determining how much you’ll get with the new — to find out how much you qualify for, use CNET’s . It’s also easier to file now than to retroactively claim or by having to in the future.
If you did file your 2020 tax return but you’re still waiting on your refund, we’ll tell youhere. You might also want to know why that is important, how your tax return could and how . This story is updated regularly.
The IRS is looking at your 2020 federal taxes to determine if it underestimated the amount of money you received with the. If the IRS based your payment on your 2019 tax return but your 2020 federal tax return shows you qualify for more money for that third payment, the IRS will send you the difference as a separate .
How does the May 17 tax due date affect my stimulus check?
The IRS uses, if it has it, to determine the amount you’d get in your . Specifically, the IRS looks at the , on your 2020 form to help figure out your payment by using a .
But the tax agency will use your 2019 return if your 2020 taxes haven’t been accepted by the time your payment is sent. That could work in your favor if your income from 2019 was lower than your income from 2020 (youin most cases).
However, if your 2020 tax return would Read more>>, like if you , you’ll want to file as soon as possible, so the IRS processes your 2020 taxes before releasing . Here’s what should know…