Tax Truths and Lies: Here s What You Can and Can t Get Away With yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
5 Questions To Ask Before Buying an Electric Vehicle yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
A look at what's in the $1.9 trillion COVID relief bill, including more stimulus checks, tax breaks for households with kids, aid to schools, another unemployment boost and more PPP loans.
COVID-19 Q&A: Stimulus checks and filing your taxes Share Updated: 9:16 AM CST Feb 24, 2021 WVTM 13 Digital Share Updated: 9:16 AM CST Feb 24, 2021
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Show Transcript IAN: AS YOU WORK ON YOUR TAXES THIS YEAR, YOU MAY BE WORKING THROUGH A DIFFERENT SCENARIO. MAYBE YOU WERE OUT OF WORK OR YOU GOT A STIMULUS CHECK AND YOU ARE WONDERING, DO YOU HAVE TO PAY TAXES? LET’S START WITH THE ECONOMIC STIMULUS. IF YOU GOT A CHECK, DO YOU HAVE TO PAY TAXES ON THE STIMULUS PACKAGE? THE SHORT ANSWER IS NO. THAT MONEY IS TAX-FREE. A FINANCIAL PLANNER TELLS ME TYPICALLY ANY INCOME WOULD BE TAXABLE, BUT IN THIS CASE, IT IS NOT CONSIDERED INCOME. HERE IS ANOTHER QUESTION. WHAT IF YOU DID NOT RECEIVE YOUR STIMULUS CHECK, BUT YOU QUALIFY? HOW DO YOU CLAIM THAT ON YOUR TAXES AND GET YOUR CHECK? SOME PEOPLE MAY FALL INTO THAT CATEGORY. MAYBE YOU DID NOT IN 2019 2018 FILE. THOSE WERE THE YEARS TAX RETURNS WERE USED TO CALCULATE YOUR CHECK. IF Y