MI-1040CR and Coronavirus Relief

March 18, 2020 1:35 PM

We didn't have to file a Federal return but we did file a Homestead Property Tax Credit (MI-1040CR). Might this be sufficient to qualify for and trigger possible Coronavirus relief or must we file a 1040 federal?
posted by rcMAC to Work & Money (4 answers total)

No one knows as the possible laws for tax-based Coronavirus relief have not even been written yet, the only laws that are in the pipeline right now deal with very short term things like emergency sick leave. You still have an entire month until a federal return would be due so you have plenty of time to figure this out. I'm not a tax professional but if you aren't required to file a 1040, your 1040 will probably be very simple to file and you could do that very late.
posted by JZig at 6:35 PM on March 18, 2020

Response by poster: Because the relief that has been discussed would be triggered by a tax return and in a period of much personal medical concerns it actually matters to us whether something we've already done might be sufficient to allow us to cease thinking about doing more. I believe this is an adequate reason for asking my question. Now I would like to know why such a justification is necessary.
posted by rcMAC at 10:24 PM on March 18, 2020

With respect and kindness, no one (either in this community or out of it) is going to be able to definitively answer your question because the answer does not yet exist. Congress has not yet passed legislation and the determination of how to enact that legislation has not been made by the other governmental bodies. Even after legislation is passed, it may still take some time for regulations to be created that determine who is eligible, how the funds will be distributed, etc. and so the answer to your question will probably not be clear until those regulations have been written.

You have the option to determine if it would give you peace of mind to file a 1040 and to research whether doing so would adversely affect your tax situation. It would be irresponsible for a financial professional to offer you firm advice at this point in time, and even more irresponsible for anyone here to speculate on what will or will not be required. (I am definitely not a financial professional and this is not financial advice.)

I am very sorry that your personal health situation is causing additional stress beyond the already-incredible stress of the overall situation and I hope that the answers to your questions become clear in the days ahead.
posted by athenasbanquet at 9:25 AM on March 19, 2020

Response by poster: It appears my question was ill-written. I believed I was asking whether the information we provide to our state in a 1040CR is automatically sent in some form to the federal treasury. I believed there might be others who would eventually search for this, too, and be helped to find the answer here.
posted by rcMAC at 4:55 AM on March 25, 2020