My 2019 AGI is too high to get any stimulus payment. My 2020 AGI qualifies me to get most of the payment. I filed on 2/22, but so far it is only being processed.
So, let's say it goes thru soon. The IRS uses 2019. How do I then get them to use 2020? Do I have to wait until Ifile my 2021 taxes? Or is there a quicker way?
Mel
There is a subsection in the new law that addresses an additional payment. If your stimulus payment is based on 2019 and you file a 2020 return prior to the ADDITIONAL PAYMENT DETERMINATION DATE, then the IRS will issue you another payment that accounts for any excess based on
2020 income. The ADDITIONAL PAYMENT DETERMINATION DATE is the earlier of 90 days after April 15, 2021 or Sep. 1, 2021.
HUH??? Seems the 90 days after 4/15 is ALWAYS sooner than 9/1
Mel
Of course. But what the statute actually says is the earlier of "90 days after the 2020 calendar year filing deadline, or ... September 1,
2021."So if C> >> The ADDITIONAL PAYMENT DETERMINATION DATE is the earlier of 90 days
It doesn't require Congress to move the filing deadline. The IRS Commissioner just did it and made it May 17. You can add 90 days to that and you are still earlier than 9/1.
It requires an act of Congress to move the tax filing deadline. Fortunately, Congress had already passed the Stafford Act enabling the "Secretary of the Treasury" to determine that tax filers are "affected by the COVID-19 emergency" and can thus delay filing.
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