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IRS: Why don’t you pay taxes on your stimulus check payments?

Those who received stimulus checks did not need to pay the IRS taxes on the federal payments they received.

irs tax form you can claim your stimulus payment on

Normally, according to the federal tax code, any income needs to have income taxes paid on it.

The federal stimulus checks are the exception to the rule.

This payment is exempt.

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What happens if I file my taxes late?

Americans are confused by this due to the federal tax code, and wonder if they should pay the stimulus check back.

Though the code makes it seem like they should, they do not need to.

The loophole that stops this from happening is because the federal government granted the stimulus check.

This means the stimulus check isn’t income.

How do I figure out how much I owe to the IRS in taxes?

The check is an advanced payment on a tax credit you would have seen when filing your taxes.

Claiming a stimulus check from the IRS

In order to claim a stimulus check you may have missed, you need to file your 2021 tax return.

On your return, you’ll claim the recovery rebate credit.

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