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As part of a tax relief plan to counter the economic effects of the Coronavirus, Congress...

As part of a tax relief plan to counter the economic effects of the Coronavirus, Congress has proposed sending $1,200 to certain individual taxpayers. If this provision were passed, would the recipients have to include the $1,200 in income? Answer “yes” or “no” and provide a BRIEF explanation.
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Answer #1

The transfer payment such as the unemployment insurance and social program benefits to people tend to increase the total income of people. Thus such income is taxable under the income tax. Total income must cross the taxable limit. Thus, the tax is applicable on such income.

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