Relief checks will have no bearing on income deductions for 2020.
IRS: You don't have to pay back stimulus check
Credit: KTNV Channel 13 Las Vegas
Duration: 00:32s
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MEDIA - RUMORS ARECIRCULATING SAYING - THATYOU'LL HAVE TO PAY BACKSOME...OR ALL OF YOURGOVERNMENT STIMULUS CHECK ONYOUR NEXT TAX RETURN.THE I-R-S SAYS-- THAT'S NOTTRUE.A SPOKESMAN SAYS RELIEF CHECKSWILL HAVE NO BEARING ON YOURINCOME DEDUCTIONS FOR 20-20.THE ONLINE CONFUSION SEEMS TOBE STEMMING FROM LANGUAGE USEDIN THE RESCUE BILL.IT REFERS TO THE CHECKS AS"ADVANCED REFUNDS."BUT THE U-STREASURY DEPARTMENT ALSOREASSURES THAT'S NOT WHAT WASMEANT BY THE TERM.WHEN IT COMES TO ESSENTIALBUSINESSES...
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