Beginning today you can file your 2020 federal and state income tax returns. Louisiana Revenue Secretary Kimberly Robinson says you do not have to pay taxes on the stimulus checks.
“Those payments they received last year, the $1,200 per individual, and $500 for children and then the additional $600 that they started receiving at the end of the year those are not subject to tax,” said Robinson.
If for some reason you didn’t receive your stimulus check last year, Robinson says you have the opportunity to claim it on your tax returns.
“You can claim that on your return when you file it, so you need to pay attention and be aware of that. It’s not subject to tax and if you didn’t already claim if you get to take it on your return,” said Robinson.
Another thing you should be aware of is your unemployment benefits. Robinson says with record filings of unemployment last year many are not aware of how it affects your tax return.
“It is subject to tax, both federal and state. And generally, that state tax was not withheld, so that’s going to be a shocker for some people,” said Robinson.
Robinson says the frontline worker rebates and main street recovery program grants that small businesses received are subject to state income taxes too.
But Paycheck Protection Loans are not subject to Louisiana state income taxes.
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