United States: Find out if you have to pay taxes on stimulus checks

During the COVID-19 pandemic, which affected several countries, people needed support to face the economic crisis. Given this, the Internal Revenue Service (IRS, for its acronym in English) of the United States began to deliver stimulus checks to citizens. However, in 2023 these beneficiaries wonder if they also have to pay taxes on the checks.

The stimulus checks they were delivered to eligible citizens; that is, to persons of North American nationality or to foreigners residing in that country. He stimulus check sent to them via direct deposit to a bank account or by postal mail as a paper check or debit card.

Currently, millions of citizens of USA have a great doubt as to whether or not they should declare that money before the Internal Revenue Service (IRS). That is why many are waiting for this entity to publish its guidelines this week.

WHAT IS A STIMULUS CHECK?

Due to the pandemic due to the coronavirus stimulus checks They became a great help to the citizenry. That is why the government of USA decided to hand them over.

This mechanism is also known as the Economic Impact Payments.

The amount received by people depends on the income reported in their 2019 or 2020 tax return. It is also taken into account if they are married, single, have children, etc.

HOW MUCH WAS THE AMOUNT OF THE STIMULUS CHECKS?

According to the USA.gov portal, three stimulus checks were delivered.

• first stimulus check: $1,200 (2020)
• Second stimulus check: $600 (20-202021)
• Third stimulus check: $1,400 (2021)

DO I HAVE TO PAY TAXES ON STIMULUS CHECKS?

This is one of the big questions that many taxpayers have been asking themselves in recent weeks. In this sense, according to La Opinión, the federal tax office recommended to taxpayers that if there are still doubts about the issue, they wait to send their federal tax return.

“We are working with state tax officials as quickly as possible to provide additional information and clarity to taxpayers.”, assured the IRS.

The aforementioned medium also adds that the state they have announced that the money from these stimulus checks is not considered as income; that is, people would not have the need to declare them.

On the other hand, in Californiatax authorities have indicated that there is a probability that the declaration will be required.

WHICH STATES WERE STIMULUS CHECKS SENT TO?

• Arizona
• California
• Connecticut
• Florida
• Maryland
• Michigan
• New Hampshire
• TennesseeVermont