Does the stimulus check affect individual taxes?
The tax deadline is swiftly approaching and with it, a need to get all of your financial affairs in order. But this year is different from the last. This year, American taxpayers are considering how their stimulus checks might affect their tax bills. With three total stimulus bills to consider, you might be wondering how these monetary government checks will play a role in filing your taxes. And in this guide, we’ll discuss just that while answering the question does the stimulus check affect individual taxes? Well, does the stimulus check affect individual taxes? The short answer: No. Great news, stimulus checks, which include the following, are not taxable: $1,200 in April 2020 as a part of the CARES Act $600 in Jan 2020 as part of the Coronavirus Response and Relief Supplemental Appropriations Act $1400 in March 2021 as part of the American Rescue Plan Act This money is not considered income and therefore will not be taxed. Will I still need to have information on the stimulus ...