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pay Fed tax on Stimulus payment

By Terry Savage on February 23, 2021 | Wild Card & Pandemic Related

Hi Terry, I’ve looked around and I have been wondering if we have to pay income tax on the Stimulus payment. I could not find this information. Please advise. Also, if we do, should the payment received this year be claimed on the 2020 taxes?

Terry Says

NO! You do NOT owe taxes on stimulus payments. You do not have to report it on your tax return.

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