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Taxpayer Beware


So, you’re excited because the government is going to be handing out “free money” in the next few weeks because of Covid-19 aka Corona virus. Well, I hate to burst your bubble, but nothing is ever free. So please, please think before spending all that money frivolously.

Let’s talk this through…right now, all financial matters are kind of in a holding pattern–some people are not getting paid at all while others might be receiving partial payments. Many people are applying for unemployment. Banks and landlords are being restricted from foreclosures and evictions, and utility companies are not allowed to discontinue services. This will not last forever. Eventually everything is going to catch up with us and we will all be required to pay back whatever we are not required to pay right now.

And let us not assume that this money will not be taxed. I suppose people that usually do not have to file income tax returns will have to do so for 2020.

Just don’t do anything you’re going to regret later.  

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