S. O. P
we got a notice from the govt IRS that we would be getting a $2400 check so as to be "stimulated".......about two weeks or so after we got the check......typical ...i don't want it but wife said she would spend it for something , besides just taking it and including (do NOT forget) it on our taxes would be a whole lot simpler than returning it and wondering if they would take it off our taxes to avoid a SNAFU
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Yeah I got the same letter yesterday. I think it is Trumps way of reminding us how generous his administration is. Everything I have read is that the stimulus check is not taxable. It was a tax credit on your last years taxes and will have nothing to do with 2020. At least that is what the IRS says now, who knows what they will say by the end of the year. Bob 0 -
The stimulus checks are NOT taxable by the Federal or State government. The law was written that way. I for one do NOT consider the check a gift. My combined taxes both state and federal eclipse that amount substantially.
Now for what they dont tell you: People collecting unemployment compensation plus the $600 temporary weekly boost will be required to pay federal and possibly state and local income taxes on all collected.0
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