Uh, no. The stimulus check is NOT taxable income.
Are you sure? I mean that this is a new plan from our demoncrat friends and we have no clue as to what was in that bill they passed, including the possibility that it might be taxable this time around, can't tell from what the media no longer reports to us.
They aren't taxing it, they are getting the money back via your refund. This is why they asked if you got the April 2020 and the January 2021 stim checks when you go to file. If you got both or only one, they take it out of your return. So if you get this new one it'll come out of your refund next year for 2021 taxes. This is 100% fact.
If you do get it they decrease the amount from what you would normally get. My spouse got both, she was 2400 lower, I only got one and it balances out giving me what I'd normally receive for my shit pay job at Lockheed. We've been discussing this with others who file with different companies than us with some getting both, some getting none, and some only getting one like me. People who got both like her were reduced 2400 so it didn't include child credits that came with the initial stim check (her sister has 5 kids). I got lucky I didn't get the one in January or I'd owe money back because my initial return was only $368. When e-filing with H&R Block they have your est amount on the left, I clicked yes for 2020 and it showed -1200, I clicked no on January and it went back to 0. Then I filled out the rest like normal and my amount is the normal amount. If they weren't taking it out I'd be getting the January stim in my return.
That's what they wanted you to think as I do my own too. In any case, we plan to pay them back next year in BTC. I'm in the queue to get a 3090 to mine 24/7 and add to my fleet of cards I'm currently mining on. Plan to use the 3090 to mine ETH while I still can until they block it next year, so far the pair of 2080s should net me 3k by the end of the year. The profits after investment will go to future rig upgrades and formula for the baby.
