 TITLE: Will 2020 Stimulus Payments Affect Your Taxes? CONTENT: Is the Stimulus Check Just an Advance on My Tax Refund or Government Benefits?\n------------------------------------------------------------------------------\nYour stimulus check is not an advance tax refund, and will not affect tax refunds based on your 2019 and 2020 tax returns. Additionally, you will not have to repay the stimulus money.\nThe stimulus payment is a new federal tax credit for the 2020 tax year, which is why you may have heard it referred to as a stimulus rebate. But unlike other rebates, such as the federal child tax credit or earned income tax credit, Americans are eligible now to receive payments instead of having to wait until tax time next year for a larger refund or a tax payment reduction.\nYour stimulus payment should also not affect the amount of money you get through federal benefits, such as Social Security, and your state-based unemployment benefits should be safe as well. Receiving unemployment benefits doesn't disqualify you from also receiving a stimulus check, nor will it reduce the benefit amount you'll receive from either source. Keep in mind that while the stimulus payment is not taxed, unemployment benefits are subject to federal income taxes and some state income taxes. END