With the start of 2021 later this week, there are questions of whether the Stimulus payments received from the federal government are Taxable. Michael Devine from the IRS says… No, but other COVID-19 related payments may be.
Devine says to do some research to make sure you know your responsibilities by going to IRS.gov
He also says there is an opportunity for additional giving to charity.
Once again, check IRS.gov for more information.