Timing on income tax filing can affect stimulus checks

With the signing of the American Rescue, $1,400 stimulus checks were approved for individuals making $75,000 or less, or $2,800 to a couple filing jointly who make $150,000 or less. Economists say the extra money shouldn’t change what a person owes the government or the refund on the 2020 tax return because it is considered a tax credit paid in advance and stimulus checks are based ...