Is The 1200 Stimulus Check Taxable As Income

While stimulus checks don t count as taxable income unemployment benefit money does count when the irs tallies up a person s income tax bill according to april walker lead manager for tax. No says the tax agency. And because stimulus checks don t count as taxable income they don t influence.

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That s because they are considered tax credits not income.

Is the 1200 stimulus check taxable as income. With the 1 200 checks the payments ended at annual incomes of 99 000 for individuals and 198 000 for couples. The same applies if your 2020 earnings places you above the threshold for a stimulus payment while your 2019 or 2018 income was below the cutoff the tax agency said. The good news is both stimulus payments including the first payment of up to 1 200 per person are actually not taxable.

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