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IRS Should Deliver Full Stimulus Payments To Those Who Owe Back Taxes, Urges Taxpayer Advocate

Source: - Jan 30, 2021

Still waiting for your stimulus check (a.k.a. economic impact payment(s))? Owe taxes? You might not see a dime. What? Wasn’t the money supposed to come through when you filed your 2020 tax return this spring? That was what the Internal Revenue Service was saying all last year, but now, based on a retroactive law change in the year-end spending package, the rules have changed: Outstanding stimulus payment(s) may be offset for back taxes. That’s bad news for Americans struggling financially because of the coronavirus pandemic who were counting on stimulus money to help pay for basic needs.

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Category: General Business