Taxes file joint or separate?
My husband and I have always filed a married joint tax return. I was unemployment in 2020 and with the first $10,200 of unemployment benefits not being taxed, it would be better for us to file married file separately since I would receive the first 2 stimulus check refund credit and not being taxed on the $10,200. Can we file separately this year(2020) and go back to joint return for 2021 return?
We would receive a refund of around $600 filing separately or owe around $1100 filing jointly.
Could I also qualify for the third stimulus check if we file separately?
Terry Says
The income limits for stimulus checks are adjusted to remove that incentive to file separately! I don’t know who did those tax calculations for you, but I don’t think they are correct. Please consult a tax professional. My opinion: This is the wrong time to start fooling around with the IRS!
