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Will I Get Taxed on My Coronavirus Check?


The coronavirus pandemic continues to spread across the globe, and it's having a huge effect on people's lives. In addition to health concerns, the COVID-19 outbreak has led many government officials to declare states of emergency and take steps to keep people from gathering -- even if it means telling millions of employees to stay home from work.

After a painfully long process of negotiation, it now appears that lawmakers in Congress have come to agreement about how they hope to help Americans struggling to make ends meet. The Senate voted 96-0 Wednesday night on a bill that would send most adults $1,200 in the form of a coronavirus check. Yet many people are skeptical about financial relief and worry that there could be a hidden catch involved in accepting that payment. The IRS is a popular villain, and one often-expressed concern is whether people will have to pay taxes on their $1,200.

Image source: Getty Images.

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Source Fool.com


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