Since the CARES Act—which was signed on March 27—both Uncle Sam and the Treasury Department paid out more than $376 billion in stimulus checks. The first two payments (and the third one for some of you) were like a breath of fresh air for many Americans, but they still need additional financial support.
Thankfully, the taxman already sent the third round of stimulus checks, which, indeed, is not enough for most of us, but yet, it’s welcomed by all Americans who are struggling right now.
Being accustomed to owing taxes on almost everything, some Americans wonder if this type of financial help will get similarly taxed. (The answer is on the next page!)