STIMULUS CHECK IS NOT TAXABLE
Greetings my People,
Hey Remember in March 2020 congress passed the first Corona Virus Stimulus Package of $2 trillion Dollars. 2 Bills and one Stimulus Check
$192 Billion not Taxed
The IRS issued 160 million checks of $1,200 by August 2020. Notably, that is $192 Billion Dollars, nonetheless, First things First, the Stimulus check IS NOT TAXABLE. There are many misconceptions that the $1200 is taxable. That is Misinformation.
The Stimulus check is Not Taxable
When you report it on your 2020 tax return it will not be taxed because it is NOT TAXABLE INCOME. Where is the definitive answer?
So stop worrying about that. No i want more documentation.
The Stimulus Money
The government injects money to stimulate the economy. Remember money like a drug is sometimes injected directly by the dealer to keep the consumers’ loyalty. Consequently, It would make no dollars or cents for them to turn and tax that very same money.
How The Government gets Its Money
The U.S. Government collects money from us all the time in the form of taxes. The IRS and Corporate america in cahoots collects and delivers those taxes to the US government. What taxes? Income Taxes, FICA taxes, Sales Taxes, Property Taxes, Excise Taxes, Utility Taxes, Payroll Taxes, Estate Taxes, Corporate Taxes, Interest and fees. There is no shortage of tax revenues.