Hotels and airlines, though, hand them the cash. Oh, and enjoy your $1,200...or less. (Directed at the deal, not at you).
Enjoy that $1200 LOAN on your tax for 2020. You will pay it back come tax time unless you have no tax burden (like drawing Welfare or base Social Security) Its NOT a FREE GRANT like what they are offering the Airlines.
If you plan on a $3000 tax return, it will be $1000. If you figured on paying $500 in tax above what they withheld, it will now be you writing a $2500 check next April.
Not quite. It's a refundable tax credit. We just get the money now, instead of at tax time. Regardless of whether you're planning on getting a refund or writing a check, it lowers your overall tax liability.
During normal times, if you got a $3k refund, the $1200 credit would bump that to $4200, which you would get back at tax time. But, since we get the $1200 now, our refund at tax time goes back to the original $3k.
If you end up owing $500 at tax time, you get the $1200 now, and will still owe the $500 come tax day.
If you ever find yourself in a fair fight, your tactics suck.