(INTELLIHUB) — President Donald Trump and the U.S. government have lied to the good American people yet once again as the stimulus bill H.R. 748 states that Americans are only being advanced the money and will have to later pay it back through taxation.
Subtitle-B–Rebates and Other Provisions from the bill lists under Section 2201 titled 2020 Recovery Rebates for Individuals subsection (a) states the following:
(a) IN GENERAL.—Subchapter B of chapter 65 of subtitle F of the Internal Revenue Code of 1986 is amended by inserting after section 6427 the following new section: ‘‘SEC. 6428. 2020 RECOVERY REBATES FOR INDIVIDUALS.
‘‘(a) IN GENERAL.—In the case of an eligible individual, there shall be allowed as a credit against the tax imposed by subtitle A for the first taxable year beginning in 2020 an amount equal to the sum of—
‘‘(1) $1,200 ($2,400 in the case of eligible individuals filing a joint return), plus
‘‘(2) an amount equal to the product of $500 multiplied by the number of qualifying children (within the meaning of section 24(c)) of the taxpayer.
Ladies and gentlemen, you have been duped yet once again!
The stimulus checks are just an advance on your next tax return which you will owe next year.
When are you going to wake up and stand up?