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No, you won't have to claim stimulus checks on your taxes

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    I've spoken with more than one person who expressed concern about having to claim the amount of money they received from their stimulus check(s) when they file their 2020 taxes this year. Their mood changed for the better when I told them that the stimulus checks are not taxable and won't count towards their taxable income.

    According to the IRS:

    "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 or 2021 tax return next year. A payment also will not affect income for purposes of determining eligibility for federal government assistance or benefit programs."

    So if you were worried about how the stimulus checks might affect your eligibility for certain tax breaks or credits then rest easy. That's good news for all of us.

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    Just keep in mind, if you didn't get your stimulus for whatever reason, and you qualified to get one, you will have claim it on your taxes in the form of a tax rebate when you file. But you're correct, you don't have to pay taxes on your stimulus or include it as part of your income in any way.

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    Good to know. And yeah I heard that if you didn't get your check that you'd have to claim it. Which makes sense. One question, has anyone heard about any tax breaks for first responders? I know that they're doing it somewhat on state and local levels, mostly for volunteer fire and EMS, but haven't heard anything about full time first responders.