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The short answer is no, you will not owe income taxes on the cash and do not need to include it as part of your taxable income on your 2020 return. The payment is technically being structured as an advance on a temporary, refundable taxcredit.
 

fishtm2001

Well-Known Member
"Just had a long and very good conversation by phone with President Xi of China. He is strong, sharp and powerfully focused on leading the counterattack on the Coronavirus. He feels they are doing very well, even building hospitals in a matter of only days. Nothing is easy, but... he will be successful, especially as the weather starts to warm & the virus hopefully becomes weaker, and then gone. Great discipline is taking place in China, as President Xi strongly leads what will be a very successful operation. We are working closely with China to help! "

donald Feb 7
 

fishtm2001

Well-Known Member
"The story the president now tells—that he “built the greatest economy in history,” that China blindsided him by unleashing the virus, and that Trump saved millions of lives by mobilizing America to defeat it—is a lie. Trump collaborated with Xi, concealed the threat, impeded the U.S. government’s response, silenced those who sought to warn the public, and pushed states to take risks that escalated the tragedy. He’s personally responsible for tens of thousands of deaths."

William Saletan
 
165,807 dead Americans, 5.213+million infected. Sunday saw 535 Americans die. A lower number, no question. But, its interesting to note that that is the highest death total for a Sunday since May. The college football season is now in jeopardy, killing these states financially. Many schools across America are starting with virtual learning. Not returning to the classrooms till Oct.
 

DriveInDriveOut

Inordinately Right
Death rate continues to plummet.
Democrats continue to push for shutdowns.

They do not want economic recovery until after the election. They care more about beating President Trump than they do about the American people.

Disgusting.
 
Death rate continues to plummet.
Democrats continue to push for shutdowns.

They do not want economic recovery until after the election. They care more about beating President Trump than they do about the American people.

Disgusting.
103 Americans have died from Trump Flu since your post. The dead won’t be contributing to the economy.
 

DriveInDriveOut

Inordinately Right
165,807 dead Americans,
1597082816877.jpg

I’ll say it, 500,000 will die
 
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