Will you have to pay back the coronavirus stimulus check? Plus 6 other stimulus myths debunked - CNBC
Assuming all of the information on your tax returns is correct, you will not repay the check next spring.
You may even receive more money when you file your 2020 taxes. While the checks are based off of your 2019 or 2018 returns to get you money now, they are technically credits for 2020 taxes, per the. If it turns out that you should receive a larger credit based on your 2020 adjusted gross income , then you will receive the difference next year.
It is those who still need to file a return and those who get their tax refund via a paper check who will potentially wait months to receive their stimulus check, according to the IRS.There is nothing most people need to do to receive a check. If you filed your tax return in 2018 or 2019 and the IRS has your banking information, you will receive a payment automatically.
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