Taxable or no? Here’s how your relief check could affect your 2020 return

Fox News’ Eben Brown with the facts.

The Marc Cox Morning Show
April 16, 2020 - 7:06 am

Eben Brown joins the show to break down how our relief checks could affect our 2020 tax returns.

These checks are NOT taxable income.

However, they are based on reported 2019 income. Since the tax date has been pushed back, some people have yet to file. In this case, eligibility will be considered based on your 2018 income.

There is a scenario where an individual or a couple could have made significantly more money in 2019 than they did in 2018. If someone fitting that example hasn’t filed their 2019 taxes, they could have potentially received more relief based on their 2018 return than they should have. The additional money received would become taxable next year.

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