When do I have to pay the tax on my stimulus check?

There are a lot of questions related to receiving a stimulus check provided by the Government during this pandemic. Many taxpayers think they have to pay tax on the stimulus they received, the opposite is actually the truth.
You don’t have to pay your stimulus check back to the government, and it will not reduce your tax refund for the year. The stimulus check is a new federal tax credit available in 2020 that the government has decided to give people now to help them through the pandemic and the recession. Tax credits provide a dollar-for-dollar reduction of your tax liability for the year, resulting in either a smaller tax bill or a larger tax refund.
So take a breath, and don’t worry about having to pay tax on this check.


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