- While everyone waits to get the official word that new stimulus checks are coming soon, there's an important update to be aware of regarding their connection to your latest tax return.
- Filing your 2020 tax return too soon might actually hurt your chances of getting the full $1,400 stimulus check amount.
- That's because income is what determines the stimulus check eligibility.
Tax season is now squarely upon us, which means the race is on to get your 2020 tax return prepared, finalized, and submitted to the IRS in advance of this year's April 15 deadline. However, the tax agency has said it's extending that deadline for Texas residents because of the brutal winter weather there that, among other things, left many without power for days and even contributed to several deaths. Texans now have until June 15 to get their 2020 tax return submitted, a deadline extension that will also be afforded to other states where FEMA likewise issued disaster declarations because of the winter storms.
Meanwhile, as you're getting your tax return squared away it might also be helpful to keep in mind a seemingly unrelated item that's actually very connected to it: Your new stimulus check, the one coming very soon, likely in the amount of $1,400, from the Biden administration.
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Do this and you might lose your $1,400 stimulus check originally appeared on BGR.com on Tue, 23 Feb 2021 at 14:10:50 EDT. Please see our terms for use of feeds.
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