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Filing stimulus payments on your taxes

Filing 2020 taxes
Filing 2020 taxes(WSFA 12 News)
Published: Mar. 21, 2021 at 5:02 PM CDT
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MONTGOMERY, Ala. (WSFA) - The recent stimulus checks have brought some relief and excitement to many.

That excitement could be seen at Eastdale Mall on Saturday.

“The stimulus package has brought out a whole lot of people,” owner of 5 Star to the Streets Andre Thomas said.

More people in the mall help new tenants like Thomas. He said this and the recent stimulus check he received will allow him to accomplish his goals.

“I’m looking to have at least eight to 10 food trucks,” Thomas added. “I’m up to two so I’m trying to buy one at least once a month.”

The IRS said it has delivered 90 million payments valued at $242 billion in its first batch of checks and 100 million are expected to be delivered in the next 10 days.

This payment and other stimulus checks must have been reported on your income tax return form.

You also must report if you haven’t received a stimulus check.

“I’ve seen people who haven’t received the previous two stimulus would report it when filing their taxes, and the government’s given them that money,” local accountant Randall Mayes said.

Mayes said it’s important to fill what you know and tell the truth on your form.

He said if you did receive a stimulus check and reported you didn’t you could face penalties with the IRS later down the road.

The IRS has extended the filing deadline until May 17.

Copyright 2021 WSFA 12 News. All rights reserved.

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