BECKLEY, WV (WVNS) — It is that time of year again when people start to take out their old receipts and pay slips to file for their tax returns; however, this year’s tax returns may look a little different because of the pandemic.
Tony Martin is a tax account at TR Tax in Beckley. He encouraged people not to be in a hurry to file their taxes.
“The advice that I have been giving is to wait and make certain you receive all your tax documents before you file,” Martin said.
Martin suggested people wait to file their taxes so they do not get paid twice. He said if you receive the second stimulus check after filing your 2020 taxes, you will have to pay that money back.
For example, unemployment can be a tax write off as well as stimulus checks, but you must have the right documents before you can claim them.
“If you file and you do not include all of your refund and you potentially get more of a refund that you did not receive now, you end up owing money to the government and it is treated as the same as if you would owe taxes when you file your return,” Martin continued.
However, Martin said the IRS is working to get people their checks as soon as possible. He said the IRS made a mistake and sent out a lot of the checks to bank accounts that were closed.
“A lot of people who have not receive the stimulus payment yet will get them in the near future. The IRS expects they will have the direct deposit check payments or if they choose to use debit cards. Those debit cards or checks should be in the hands of taxpayers by February the first,” Martin said.
Martin said if you have any questions or problems with filing your taxes, seek help from a professional. Martin also said if you were a dependent in 2019 and plan on filing as independent in 2020, you may be eligible for the second stimulus check.