IRS.gov has answers to many questions people may have about their Economic Impact Payment. Here are answers to some of the top questions people are asking about these payments.
Is this payment considered taxable income?
No, the payment is not income and taxpayers will not owe tax on it. The payment will not reduce a taxpayer’s refund or increase the amount they owe when they file their 2020 tax return next year. A payment also will not affect income for purposes of determining eligibility for federal government assistance or benefit programs.
Can people who receive a Form SSA-1099 or RRB-1099 use Get My Payment to check their payment status?
Yes, they will be able to use Get My Payment to check the status of their payment after