I’m hearing conflicting info on the upcoming stimulus checks. Are there any accountants on this forum?
I just read where the $1200 most of us will get is simply an advance on our 2020 tax refund. Which is fine with me, but I’d wager a hell of a lot of people don’t have that information. Also, must we claim the checks as income on our 2020 filing?
If it’s true, that this check will be deducted from next year’s tax refund, this info needs to be put “out there”. Personally, I think it’s reasonable, but many depend upon their refunds and use is as forced savings. If people know this, they can make other arrangements.