Tax Filing Season starts Mid-February
Authored By: Legal Aid Services of Oklahoma, Inc.
- DO NOT Under any circumstances? get a refund advance loan!
They are not worth the couple extra weeks it takes to get your refund! ?In the long run it will cost you a lot of money and may delay your receipt of any future stimulus that is passed!
- If you make less than $57,000 go to a VITA site.
They will prepare your return for free https://www.irs.gov/individuals/free-tax-return-preparation-for-qualifying-taxpayers
- If you don't use qualify for VITA, you may qualify for "Free File."
Participating companies are major tax preparation companies that allow you to prepare your return online using their software and file for free.
- If you did not get any portion of your first or second stimulus you will claim it as a rebate recovery credit on line 30 of the IRS Form 1040.
However, unlike the advance payments if you owe back child support, default student loan debt, IRS liabilities, state tax liabilities, or any other debt that is subject to treasury offset they will seize your refund and apply it to the passed due debt.
Unfortunately, in the second legislation passed by Congress, The Consolidated Appropriations Act, limited that exception that prevented seizeure of EIP payments only to advance payments and retroactively revised CARES Act Section.
Last Review and Update: Feb 11, 2021