Taxes, Stimulus Checks, and Rebates, Oh My!

Black Local and National News

by BA 22 Views

Washington D.C. ­– The Internal Revenue Service collects taxes. But this year it’s handing out cash like an ATM machine. Two IRS officials briefed minority press outlets last week and they were clearly relishing their new role: playing Santa Claus. “I’m proud of the work we did to issue more than 160 million of the first round of impact payments in 2020 and another 147 million in the second round, many as early as two days after the legislation was signed,” said IRS commissioner Kenneth Corbin. He is responsible for the administration of tax laws governing individual wage earners in the United States. Corbin said most people received the full amount of EIP-1 and EIP-2 and do not have to enter anything about them on their 2020 tax returns.  “Anyone who may be eligible but hasn’t gotten one or the full amount, may claim it when they file their 2020 return,” he said. In order to claim your rebate recovery credit you will need the amount of any stimulus check (EIP) you have received. Log into irs.gov to see what Corbin sent you. Go to irs.gov/secureaccess and register for an Online Services account. It takes about 15 minutes to sign...

Comments