Current Events > will the stimulus check/unemployment affect our tax return next year?

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Beveren_Rabbit
04/18/20 6:23:38 PM
#1:


Will we all owe taxes instead of getting a tax return?

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Irony
04/18/20 6:27:38 PM
#2:


The IRS said no, but that could be a lie

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vigorm0rtis
04/18/20 6:29:30 PM
#3:


No.

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Hexenherz
04/18/20 6:30:42 PM
#4:


It's a refundable tax credit, it's not going to do anything. PS: The return is the paperwork you send in; the refund is any excess money you paid throughout the year/are entitled to back.

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Dat_Cracka_Jax
04/18/20 6:35:07 PM
#5:


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#6
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vigorm0rtis
04/18/20 6:36:53 PM
#7:


Dat_Cracka_Jax posted...
No one seems to really know

People who actually bother to look into it know.

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emblem boy
04/18/20 6:38:23 PM
#8:


You've always had to pay taxes on unemployment since it counts as income right?
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vigorm0rtis
04/18/20 6:38:29 PM
#9:


shockthemonkey posted...
The stimulus check isnt supposed to but I thought unemployment did?

Unemployment is taxable federally, and I think it varies by state.

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judasmaiden15
04/18/20 6:39:16 PM
#10:


I'm assuming it's like when you win a lot of money in the lottery, where it's like as if you worked for that money and it might bump you up another tax bracked depending on how much you made that year


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vigorm0rtis
04/18/20 6:41:22 PM
#11:


judasmaiden15 posted...
I'm assuming it's like when you win a lot of money in the lottery, where it's like as if you worked for that money and it might bump you up another tax bracked depending on how much you made that year

It's not like that. At all. Do you guys even file your own taxes?

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L0Z
04/18/20 6:46:43 PM
#12:


Its untaxable income. However if youre asking if theyll do a tax hike to recover the money then maybe
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cuttin_in_farm
04/18/20 6:50:38 PM
#13:


vigorm0rtis posted...
It's not like that. At all. Do you guys even file your own taxes?

Stop with your fake disbelief. Most people (yes, most) do not do their own taxes. They either use a program that does it for them or hire someone.

Just explain yourself instead contributing nothing to the topic.

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vigorm0rtis
04/18/20 6:51:55 PM
#14:


cuttin_in_farm posted...
Stop with your fake disbelief. Most people (yes, most) do not do their own taxes. They either use a program that does it for them or hire someone.

Just explain yourself instead contributing nothing to the topic.

I did. In post 3.

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SK8T3R215
04/19/20 12:02:00 AM
#15:


Dat_Cracka_Jax posted...
No one seems to really know

Anyone who Googled it knows actually.

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archedsoul
04/19/20 12:03:57 AM
#16:


Unemployment does. Don't get it twisted. When you apply, they ask you if you want to withhold.

The stimulus is not though.

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ProfDE
04/19/20 12:44:19 PM
#17:


Monday I plan on calling Jackson Hewitt and asking about that since I have used them for doing my taxes for the last several years.

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