Hello Ed Slott Team,
I have two questions.
1). Will the stimulus checks to consumers be considered additional income for 2020 tax purposes, so it needs to be factored into our income?
2). Is this an advance on any 2020 refund (meaning that amount will be deducted from any refund and/or added to any tax amounts due (with or without penalties for under-withholding)?
Thanks for any insight you can give.
Ken