Unpacking the Stimulus: Is the Third Economic Impact Payment Taxable Income? A Comprehensive Guide
The COVID-19 pandemic brought unprecedented economic challenges, prompting the U.S. government to implement a series of relief measures, including direct payments to millions of Americans. Among these, the third Economic Impact Payment (EIP), authorized by the American Rescue Plan Act of 2021, was particularly significant, delivering up to $1,400 per eligible individual. As tax season…
