Can Stimulus Payments Make My Social Security Taxable?
Many, if not most, Americans received economic relief, or “stimulus” payments during 2020, a result of Government actions to ease the financial impact of the COVID-19 pandemic. Now, as we enter into the annual Income Tax preparation period, many are wondering whether those stimulus payments received in 2020 will be counted as taxable income on our tax return and, especially wonder if those payments will count toward “provisional income,” which determines whether, or how much, of our Social Security benefits will be taxed. All of these questions are answered in this Kiplinger article by Rocky Mengle. Click here to read more.
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