Hope your right.

This is why I pay an accountant. I have neither the time nor the patience to deal with that crap. I also don't make enough money to worry about them ripping me off. Tell me what my refund is or what I owe and I'm good.

https://www.irs.gov/newsroom/econom...ic-j-reconciling-on-your-2020-tax-return

It’s right here in black and white, directly from the IRS. It clearly says the stimulus will not affect your tax bill in any way.

Mine is filed no taxes owed on stimulus.

Turbo tax asks if you've gotten the correct amounts but didn't change my refund either way.

However double check your numbers it make sure you entered them correctly. Did you adjust your withholding amounts under trumps new tax law? They held out less per check and some people under withheld during the year and ended up owing or getting a smaller refund

Black and white don’t matter anymore

Don’t worry they will get it back they are working on that now. LMAO

Bingo. Some of the smartest money I spend each year. 1 hour and I’m out of there, knowing she got me everything possible.

Like Law, a man that represents himself regarding taxes has a fool for a client. . . get a REPUTABLE tax accountant!

X2 SJA

The stimulus isn’t affecting his tax bill. It is affecting his refund. Big difference. I stand by my opinion as being correct.

Wissmiss, if you read the information on the link I posted you will see that his refund will not be affected. I’m fairly certain the IRS knows wether it would or not.

Not taxable!

Nobody is paying back their stimulus with their 2020 tax refund, but taxpayers will be paying off this stimulus for the rest of their lives and their grandchildrens lives.

Ok first of all NO ONE did or will receive a 1099 on the stimulus checks. Therefore it's not even counted as "your" income. You would have had the same result on your returns whether you got a check or not. IT DOESN'T EFFECT your tax return PERIOD. PLUS IRS is not going to even start processing returns until Feb 18. So if you are getting anything back mailing it in ain't going to speed it up much.

Big problem with your math is part B has nothing to do with Part A OR part C. HE OWED $2600 because of how much he was paid from his job . His employer withheld 2830.00 from his check. After filing he OVERPAID the $230 bucks he is getting back. Dang people this is simple short form tax prep...!!! Stimulus was a 1 or 2 time styphen that wasn't required to be claimed on his taxes......

LOL His tax bill IS his refund OR the amount he has to pay in addition to what was withheld......................

I regret getting involved in this discussion. I should have known better. Carry on without me.

The place you enter how mu h your first stimulus was is to make sure you got it. If you didn't it will be added to your claim. It has no effect on the amount of tax you owe.

Your grandchildren have to pay it back.

Our grandchildren will be standing in a soup line.

From the Motley fool:

But the good news is, these COVID-19 stimulus checks weren't income at all. Instead, they were actually a tax credit, but one that the government authorized to be paid out in advance of the time you file your taxes. Since the Treasury gave you the money, you won't have to report it as income when you submit your 2020 returns and you will not be taxed on any part of it.

Since your coronavirus stimulus money isn't counted as income, it not only isn't taxable but it also doesn't affect your eligibility for any other tax savings.