By Taryn Bainbridge, CPA, CCIFP, CFE, Manager
As a reminder, please remember to include the amounts you have received for BOTH rounds of stimulus economic impact payments that have been issued by the U.S Treasury so far.
Both amounts need to be included on your return in 2020.
Even if you did not receive payment for the second round until 2021, the amount still must be reported on your 2020 individual tax return. Payments to those eligible began on April 15, 2020 for the first round, and December 29, 2020 for the second round.Filed in: Client News