CHICOPEE, Mass. (WWLP) – This tax season is one unlike any other.
The COVID-19 pandemic has created a lot of confusion while filing taxes, especially when it comes to the stimulus check.
To be clear, you do not need to pay taxes for your stimulus check, it is tax-free. But you will need to indicate if you received one or both checks.
22News spoke with Ray Maagero, owner of Liberty Tax, who explained, “If you didn’t receive your stimulus payment in the early summer or the one in January and even into February, you want to make sure that you put down the amount you did not receive on the tax return so you do get the stimulus money that’s due to you.”
Tax professionals are urging people to file taxes as soon as possible.
For many people, their income went down in 2020, which means if in 2019 you didn’t qualify for a stimulus check you may in 2020.
But, the IRS bases it off of your most recent tax return, so it’s a good idea to file before the third stimulus payment gets approved.