Posted on 03/23/2020 11:00:36 AM PDT by Deo et patriae
I am wondering if the stimulus money we get will be tax free...or are going to have to claim it as income on our taxes next year.
If the past is any reference yes it will be taxable income.
Until it’s in your hand or bank account, don’t count on anything.
I read that a few Rs wanted it deducted from next years returns but that was shot down fast.
What money? Chuck doesn’t want you to get that.
It will be a “gift,” like Bush’s $300 was.
The deal isn’t done of course (posted 2pm EDT Monday)but most versions make it non-taxable at the federal level. Each state will also have its own regs on this.
Yes.
They’re from the government and they are here to help you.
I’m still looking for my $2,500/yr health care savings.
Pelousy now owes me $25,000.
LOL, the check is in the mail and I promise not to.....
Nothing is free...
There may not ever be any money coming. The IRS does not have the gender-neutral-human-power to get it done quickly enough.
Don’t count your taxes before they are hiked............................
I doubt it will be taxable. If it were, there would be endless debates about the most woeful cases needing exemptions ad nauseam, and whether it counts as income against the myriad of income-based handouts out there. Sometimes it is just easier to keep it simple.
It should be declared as reparations thus killing two birds with one massive boulder of a fiscal package.
The democrats are assuring us that their will be no stimulus package.
Some gibsmedat at my job was p!ssed off that I said the government should concentrate on those that lost income; we are working remotely where possible but ALL employees are getting paid. She replied that I must not need the money.
I do need the money (to pay my income tax bill), but there is no case for giving it to me if I have no loss of income.
Nobody knows. Just wait until something is signed by trump
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