Luka is 72 years old and single. She receives Social Security and income of over $100,000. She has not filed her 2018 or 2019 tax returns. However, because she receives Social Security, she will receive a $1,200 payment.
Unanswered question: At this point, the IRS may not require a refund of overpaid economic impact payments, but will this law be changed?
Subscribers to Spidell’s Federal Taxletter or Spidell’s Online Research Package can read the full article here >> https://bit.ly/ORP-Economic-Impact
