RELATED: $1,400 stimulus check update: When could you get your third payment?AdvertisementAny money individuals received in the form of a direct payment from the IRS and the U.S.
Treasury Department will not be subject to income taxes because it is technically considered an advanced refundable tax credit.If you are one of the Americans who has not received stimulus cash – any or all of the checks that you are eligible for – you should claim them through the Recovery Rebate Credit on your 2020 Form 1040 or 1040-SR.You can also claim this credit if you did not receive the full amount you were owed.RELATED: Employers added 49K jobs last month as US unemployment fell to 6.3%Many people lost their jobs in 2020 and became eligible for expanded.