Re: I received the Economic Impact Payments from the IRS. The amount isn't considered as taxable income on my IRS return, is it taxable foreign income on my CRA return?
I received the Economic Impact Payments from the IRS. The amount isn't considered as taxable income on my IRS return, is it taxable foreign income on my CRA return?
Federal benefit to US citizens under the American Rescue Plan
I received the Economic Impact Payments from the IRS. The amount isn't considered as taxable income on my IRS return, is it taxable foreign income on my CRA return?
No, Economic Impact Payments arenot tax-deductibleanddo not get included on your Canadian tax return.
For more information on what constitutes foreign income please refer to the following Canada Revenue Agency (CRA) article:
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