Tax Guide
Stimulus checks impacting tax refunds
Some people are getting a case of sticker shock while doing their taxes -- when they enter that they got a stimulus check, their refund goes down.
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Some people are getting a case of sticker shock while doing their taxes -- when they enter that they got a stimulus check, their refund goes down.
THAT MAKES SIX TOTAL INMATES SINCE THE PANDEMIC STARTED, WHICH HAVE ALL RECOVERED COMPLETELY.>>> AS WE START PREPARING OUR TAXES, SOME PEOPLE ARE GETTING A CASE OF STICKER SHOCK WHEN THEY ENTER WHAT THEY GOT ON THEIR STIMULUS CHECK AND SEE THE REFUND ACTUALLY GOES DOWN. >> JOHN MATARESE INVESTIGATES SO YOU DON'T WASTE YOUR MONEY. >> Reporter: WE'VE HEARD TIME AND AGAIN THAT THE STIMULUS CHECK WAS NOT TAXABLE BUT YOU WON'T HAVE TO GIVE IT BACK THEY SAID. THEN WHY DOES IT APPEAR TO BE REDUCING YOUR TAX REFUND? MISSY STINGER FILED HER TAXES ON US TAX PROGRAM AND WAS STUNNED TO FIND WHAT POPPED APPEARED >> I INITIALLY GOT $1000 TO GO TO THE STATE. >> INSTEAD SHE OWES MONEY TO THE IRS.>> Reporter: HER SON GAVE HER A SUGGESTION. >> MY SON, SAID GO PLAY WITH THIS AND TAKE UP THE STIMULUS MONEY. I TOOK IT OUT LIKE I DIDN'T GET IT AND IT SAID OH YOU GET $2700 BACK. >> Reporter: LIKE SO MANY OTHER PEOPLE, MISSY SPENT HER STIMULUS CHECK ON ESSENTIALS, SHE HAD BEEN TOLD YOU WON'T HAVE TO PAY BACK. SHE WANTED TO KNOW, WHAT IS THIS ALL ABOUT? WE TURNED TO A CPA TO GET ANSWERS. ROY MITCHELL. YOU ARE NOT TAXED ON THE STEAM US ARE YOU? >> RIGHT. >> Reporter: HE SAYS IT IS CONFUSING BUT IF YOU TELL AN ONLINE TAX PROGRAM YOU DID NOT RECEIVE A STIMULUS CHECK IT AUTOMATICALLY GIVES A MARRIED COUPLE IN EXTRA $2400 IN YOUR REFUND. >> IF THEY HAVE NOT RECEIVED THE 2400, THAT WILL ACTUALLY INCREASE THEIR REFUND BY $2400. THEY REALIZE THEY DID GET THE 2400 WELL, THAT TAKES THE REFUND BACK DOWN. >> Reporter: MITCHELL SAYS DON'T CHEAT THE IRS WILL KNOW YOU ARE TRYING TO DOUBLE DIP. MISSY SAYS SHE WISHES SHE COULD GET A STRAIGHT ANSWER. >> LIKE I DON'T KNOW WHAT IS GOING ON OR IF THERE IS A GLITCH IN THE SYSTEM. >> Reporter: YOU DON'T HAVE TO