Do we have to pay social Security taxes on the stimulus check and when or how if yes?
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NO. The stimulus money is not taxable at all. You do not pay Social Security for the stimulus money nor do you pay any tax for it.
NO. The stimulus money is not taxable at all. You do not pay Social Security for the stimulus money nor do you pay any tax for it.
Thank you for the response! However, I was curious about what I encountered while using Turbo Tax preparing our taxes when it came to Stimulus check. I am retired but my wife is still employed. We received the first stimulus check in 2020 but not the second one! What makes me wonder about this is that the software says that we will be receiving a W-2C later this year from our employer and that we have to pay Social Security taxes on the stimulus check by December 31, 2021. Did I somehow misunderstand something or answer the turbo tax software incorrectly that it is telling me about deferred social security taxes that we are going to have to pay later?
Oh....that "W-2C" thing----it is a little software bug that they say will be fixed by later on Thursday. Wait for it to be fixed before you e-file. Sigh.....
Great, thank you so much for your help!
My wife's information was compromised online a couple of years ago and IRS has been sending us a PIN number to use when we file electronically ever since! I just finished filing and am ready to transmit our return but the Turbotax software did not ask for any IRS issued PIN numbers. The letter from IRS indicates that they won't accept our filing without the PIN number. Anyone knows where I would enter this six digit PIN number? There was a self-assigned PIN number that the software asked me to create as our signature which was a 5 digit and not a 6 digit. Any help or guidance would be greatly appreciated!
Do a Search (upper right) for ip pin and click on the jump-to link (Mac users must find IP PIN in the Topics List).
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