Do I still get something if I don’t expect to get a tax refund for 2020?
Yes.
Some tax credits just mean you owe less money to the government, so if you don’t owe anything, they don’t apply to you.
But the stimulus check is the other kind of tax credit: a refundable tax credit, like the American Opportunity Tax Credit or Earned Income Tax Credit. These are the ones the government will give you a refund for, even if you’ve hit net zero and don’t owe anything. You’ll just get a check in the mail for whatever you’re owed (or a direct deposit, if you’ve provided your banking information on your tax return).
There is one major difference between other refundable tax credits and this one, though: You’re getting this refund a year before — or “in advance of “— filing your 2020 tax return that you’ll be claiming it on.
This obviously creates some complications, as outlined and answered below.
