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You don’t have to save part of your stimulus check for the Taxman

07-31-2020


Here’s one less thing to worry about — if you received an IRS stimulus payment in 2020 under the CARES Act, it will not be taxable for federal or state income tax. The federal part was already made clear, but there was some room for interpretation under Missouri law. So the legislature passed and Gov. Mike Parson signed a law making it clear that these payments are not subject to Missouri income tax either.

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