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Client Alert

Economic Impact Payment is Not Taxable Income

May 12, 2020The IRS stated that the economic impact payments are not considered taxable income. Therefore, individuals will not owe tax on the amount of economic impact payment received. Posted by Tracy L. Albanese
Akron
75 East Market Street
Akron, Ohio 44308
P: 330.253.5060
F: 330.253.1977
Beachwood
25550 Chagrin Boulevard
Suite 100
Beachwood, Ohio 44122
P: 216.472.1500
F: 216.593.0914
Bonita Springs
8891 Brighton Lane
Suite 112
Bonita Springs, Florida 34135
P: 239.992.6578
F: 239.390.1920
Canton
4518 Fulton Road NW
Suite 202
Canton, Ohio 44718
P: 330.253.5060
Cleveland
200 Public Square
Suite 1850
Cleveland, Ohio 44114
P: 216.658.2155
F: 216.658.2156
Columbus
250 Civic Center Drive
Suite 300
Columbus, Ohio 43215
P: 614.246.7500
F: 614.246.5790
Detroit
39555 Orchard Hill Place
Suite 600
Novi, Michigan 48375
P: 216.658.2325
F: 216.658.2325
Jacksonville
5210 Belfort Road
Suite 400
Jacksonville, Florida 32256
P: 904.366.1500
F: 904.366.1501
Orlando
255 South Orange Avenue
Suite 700
Orlando, Florida 32801
P: 407.392.0318
F: 407.392.0318
Phoenix
10115 East Bell Road
Suite 107-420
Scottsdale, Arizona 85260
P: 602.796.9647
F: 480.687.9747
Willoughby
38027 Euclid Avenue
Willoughby, Ohio 44094
P: 440.951.1525
F: 440.951.1807
Youngstown
8600 East Market Street
Suite 1
Warren, Ohio 44484
P: 330.394.1501
F: 330.392.5155
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