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Questions about muh check
Posted on 3/29/20 at 7:17 am
Posted on 3/29/20 at 7:17 am
Will it be tax free?
If taxed, will taxes be removed from the check before deposit, or will I get the entire check now and be expected to pay taxes on it when filing next year?
If I had a kid February 2020, will I get the $500 for this kid?
If taxed, will taxes be removed from the check before deposit, or will I get the entire check now and be expected to pay taxes on it when filing next year?
If I had a kid February 2020, will I get the $500 for this kid?
1
Posted on 3/29/20 at 7:55 am to Darth Boudin
quote:
Will it be tax free?
It’s an advance on a refundable 2020 tax credit. It reduces tax burden. You will get the 500 for that kid in the form of a tax credit when you file next year.
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