ST Alpha - "My understanding, based solely on discussions here, is that there is no clawback" (Reading a Post)

SlickerTalk
Search Archives
The Leaderboard
The FAQ

Login
Create Account

Search Dr. S. Talk
TT/ST Wiki
How Well Do You Know ...

RSS Feed

Hosting by DigitalOcean

Support ST on Ko-Fi

Down to Post

Backboards:

Posts: 156

In response to "Will they claw it back then? -- nm" by ty97

My understanding, based solely on discussions here, is that there is no clawback

Posted by znufrii, stimulated (aka znufrii) Apr 15 '20, 06:10

So you will ultimately receive the higher of the advance payment amount or the credit calculated on your 2020 return.

Responses:

meaning the 2019 return? -- nm - Diva Apr 15, 06:12 5
- The credit applies to the 2020 tax year. The advance payment of the credit which is being paid out currently is calculated based on 2019 or 2018. -- (edited) - znufrii, stimulated Apr 15, 06:15 4
  - That's essentially what our tax person told us also and why we waited to file for 2019. I'll file now that I have the stimulus -- nm - oblique Apr 15, 06:18 1
    - oh, I get it now. -- nm - Diva Apr 15, 06:25
  - but we're only up to 2019 returns, yes? We won't file for 2020 until next year. -- nm - Diva Apr 15, 06:17 1
    - Correct -- (edited) - znufrii, stimulated Apr 15, 06:19

Post a message top

Replies are disabled on threads older than 7 days.