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March 11, 2021
Question

I currently show that I owe for this year's taxes, but not by much. Before I file, is there anything in the new stimulus that will be taken into consideration?

  • March 11, 2021
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1 reply

March 11, 2021

We don't have any details on the new stimulus package, but it should not have an effect on your 2020 tax return.

 

If you were qualified for the first two stimulus payments but did not receive them, you could make an adjustment on your 2020 return. If you received both payments, you're good and don't have to include the Recovery Rebate on your return.

 

The stimulus payments are not considered taxable income and will not appear on your tax return.