Coronavirus Stimulus Checks: Here’s What IRS Wants You to Know Before 2020 Taxes

Filing taxes is one of the most important things that people need to do in the New Year. This time, however, it will be even more important because of the stimulus checks. Considering this, the IRS has come up with a press release[1] to help people file[2] their 2020 taxes, especially those who didn’t get coronavirus stimulus checks, or got less than what they expected.

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Q3 2020 hedge fund letters, conferences and more[3]

Coronavirus stimulus checks and 2020 taxes

Millions of Americans got $1,200 in stimulus checks after Congress approved the CARES Act in March. Along with the $1,200, people also got $500 for each qualifying child.

The IRS is asking people to keep the Notice 1444, sent out at the same time as the payments, for their records. As per the agency, the direct payment sent under the CARES Act[4] is not taxable.

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