Yes, your stimulus checks will actually be part of your filing.
Some of us are really concerned about the upcoming tax reason due to the coronavirus pandemic and its consequences. Both wages of stimulus checks were needed but what they mean for our 2020 tax filing is pretty uncertain. Luckily, Richard Ogg of The Master’s Tax & Financial Services clarified the situation.
He said that both stimulus checks (the one received in spring and the one received in January 2021) would be part of our 2020 taxes. He also added that the stimulus checks aren’t taxable; however, they must be reported in order to find out whether or not you are due additional tax credit.
