Source: 95.3 MNC, 12/8/20

As farmers put together their financial information for 2020 in preparation for tax filing, there are some new issues to deal with. First, how do I count the stimulus payment? Kim Storen, with Storen Financial, says there is good news, you do not have to pay tax on that money. “A lot of people think this was an advance on their refund or that they will have to pay tax on it, not true,” she said. “If you got the $1,200 stimulus check plus $500 for each child under 17, it is free money.”

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