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Stupid tax question: My son visited 2 "Calculate my Refund"
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Stupid tax question: My son visited 2 "Calculate my Refund"


Dec 27, 2021, 11:02 PM

sites - just to get an idea of what size tax refund to expect this year. He's young and his taxes should be very simple.

It asked basically for income and amount of taxes paid. But then, there was a separate question that asked - "Did you receive the third stimulus payment and how much?"

For him, the answer is "yes" and the total was $1400.

When he entered that amount - his refund was reduced by $1400. It did this on 2 different sites. I can't find anywhere that states the third stimulus was a "loan" that had to be paid back at tax time.

Does anyone know what's going on here?

2024 white level memberbadge-donor-10yr.jpg flag link military_tech thumb_downthumb_up


The third round of Economic Impact Payments was authorized


Dec 27, 2021, 11:14 PM

The third round of Economic Impact Payments was authorized by the American Rescue Plan Act of 2021 as an advance payment of the tax year 2021 Recovery Rebate Credit.

https://www.irs.gov/coronavirus/third-economic-impact-payment
We’re sending the third Economic Impact Payments to help people during the coronavirus pandemic. Find out if you’re eligible.
2024 orange level memberbadge-donor-10yr.jpg flag link military_tech thumb_downthumb_up


Got it. Thanks!***


Dec 28, 2021, 8:30 AM



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Yeah, it's not that it was a loan to be paid back


Dec 28, 2021, 7:48 AM

It sounds like the sites wer by default treating it like he'd get it in his refund this year (since it technically was a 2021 credit), but when he said he already got it, it took it out.

Hopefully the refund was still such that it was clear that the $1400 was "extra".

flag link military_tech thumb_downthumb_up

That makes sense. It wasn't clear - at least not to me :-)


Dec 28, 2021, 8:35 AM

I assumed it was asking because the third round was taxable.

I just went through one of them again slowly - and $1400 was added early in the process and then taken away (as you said).

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Re: Stupid tax question: My son visited 2 "Calculate my Refund"


Dec 28, 2021, 10:22 AM

that would blow, big league

military_donation.jpg flag link military_tech thumb_downthumb_up

Yes it would. But Prod's description (above) is a short and


Dec 28, 2021, 3:39 PM

accurate explanation.

2024 white level memberbadge-donor-10yr.jpg flag link military_tech thumb_downthumb_up


Re: Stupid tax question: My son visited 2 "Calculate my Refund"


Dec 28, 2021, 4:05 PM

Hmm. Will have to look out for this.

flag link military_tech thumb_downthumb_up


Don't need to - Prod's comment above is correct.***


Dec 28, 2021, 5:22 PM



2024 white level memberbadge-donor-10yr.jpg flag link military_tech thumb_downthumb_up


Re: Stupid tax question: My son visited 2 "Calculate my Refund"


Dec 28, 2021, 6:08 PM

What’s a refund?

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Replies: 9
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