04.09.20

Questions answered: Will you be taxed on the stimulus checks?

BOZEMAN- With over 10 million Americans unemployed and 45,000 Montanans looking for unemployment help the stimulus check that is coming could be a massive relief right now. 

So there are some questions surrounding what you could be receiving under the corona economic stimulus package.

One of the big questions surrounding the checks, are you going to be taxed on it.

“Those checks are not to be taxed,” Senator Steve Daines said, “so that $1200 check you receive as a single person, after $75,000 income... it starts to decrease up to $100,000, up to 75,000 income you get a $1200 check not taxed.” 

Now one of the other big questions if you're a senior on social security how will you receive your check?

"The check will be deposited directly into your account,” Senator Steve Daines said, “[seniors] don’t have to do anything, they don’t have to file a tax return, that check will go in the same account their social security check comes in to and again it’s not taxed.”

The senator says he spoke to Secretary Steven Mnuchin and says within the next three weeks you can expect a check if not sooner.

Right now the senate, they are in talks about a fourth of a stimulus package. The senate is subject to a 24-hour call back to D.C.

There is a possibility for another stimulus check in the fourth stimulus package for Americans.


By:  Bradley Warren
Source: KHQ