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posted ago by Amaroq64 ago by Amaroq64 +39 / -0

There was so much misinformation and chaos about it back when Trump gave the $1200 stimulus. Would we have to pay it back or wouldn't we? Everyone you asked on here had a different answer.

Well, the answer is yes. It was an advance on your tax returns. So if you "qualified" for the stimuluses last year, you're probably not getting a tax return this year.

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Clover8467 5 points ago +5 / -0

It sounds like you may want to bite the bullet and get help from a professional. If you don't know what documents you need to have before you file you may be leaving a lot of money on the table. Same for possible credits and deductions you should qualify for.

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Amaroq64 [S] 2 points ago +2 / -0

...I think I see what happened now.

The extra money from the enhanced unemployment during the lockdown, just barely pushed me up to the next federal tax bracket. :/

EDIT: Wait, no, it didn't. I was confusing gross for taxable. Wtf?

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commies4jail2021 2 points ago +2 / -0

my accountant costs like 100$ and seems to save me thousands.. i would suggest getting a local expert.

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Amaroq64 [S] 1 point ago +1 / -0

I figured if I'm just a simple employee, I don't have enough going on to need one. I've been able to get like $600+ back every year until this year.