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In the somewhat longer words of the irs.
Stimulus money taxable irs. Do i still qualify for a payment. Is my stimulus payment taxable. No a stimulus payment doesn t count as income and you won t owe tax on it the irs has said.
Will i pay taxes on my stimulus payment. The stimulus check is taxable income again no. Second round stimulus checks are being sent through mid january.
If you haven t filed your tax return for 2019 but filed a 2018 federal income tax return the irs will use the information from your 2018 tax return to calculate the amount of your stimulus check. Now it s sending out millions more checks in the second round of stimulus payments. I didn t pay taxes in 2019.
No the payment is not income and taxpayers will not owe tax on it.
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