The first thing you ask about the Federal Stimulus Checks that are starting to be Deposited in Citizen Accounts: Is this Tax Free?

Yes, you do Not have to Pay Federal or State Taxes in 2021 on the Money.

But in 2021, get ready for the Government's Surprise. It's Not a Gift. Its the start of your 2020 Federal Tax Refund.

When in 2021, you complete your 2020 Federal Tax Forms, your Refund for 2020, will be Reduced by the Money you received in the Stimulus Check.

Yes, if you are Not getting a Refund, or your Refund is Less then what you received in 2020, your Free and Clear of any Monetary requirement.

At least that is as of Today.










NYC Wins When Everyone Can Vote! Michael H. Drucker