01/04/2021
Now that the tax year 2020 is over, and you received your first stimulus payment in 2020, you might start thinking about filing your tax return (early birds) and might be wondering if that stimulus check that you received is taxable. Well, lucky for us all - that money is NOT TAXABLE neither by IRS, nor by your state.
But if you lost your job due to COVID and received unemployment compensation, that extra payment of up to $600 per week from IRS, as well as your regular unemployment benefits ARE TAXABLE by IRS, and EXEMPT by California State.