Stimulus Payment If You Owe

You will still get a stimulus check if you owe taxes.

Stimulus payment if you owe. The irs authorized two stimulus payments. But the deadline to pay federal income taxes is july 15 and the feds can work out installment plans. If you file for the credit and are owed money you ll either see the amount of your tax refund increased or the amount of tax you owe lowered depending on the amount of stimulus money you re.

This is different from the cares act which specified that if you owed back child support your. Another viewer wrote in asking. Anyone who made less than 75 000 in.

So if you owe you may need to spend your stimulus money on taxes at that point. The answer is yes. So while those who owe child support lost their first payments the second stimulus payment won t be taken to repay overdue debts.

With the first stimulus check if you owed child support payments by as much as 150 the government gave states the right to garnish the amount you needed to pay. A 1 200 payment last spring and a second round of 600 that began going out on dec. Do i get a irs stimulus check if i owe taxes.

The irs will not offset any unpaid taxes against the stimulus provided by the government. To be eligible for a full 1 200 stimulus payment you must have an income that doesn t exceed 75 000 as a single tax filer or 150 000 as a married couple filing jointly. So even if you don t qualify for a second stimulus check or a first round payment make sure you check out the recovery rebate credit when you file your 2020 return it s on line 30 of the form.

For example if you owed 2 000. The irs states there is just one reason why an eligible taxpayer may not receive their stimulus check.