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JML
Level 2
Feb 20, 2021 6:30 PM UTC
Question

HHS Stimulus HHS Payment Taxable?

Is the payment received from HHS Stimulus HHS Payment for medical providers taxable?

If not, would it be another M-1 Adjustment like PPP Grant?

Thank you 

This topic has been closed for replies.

7 replies

qbteachmt
qbteachmt
Level 15
Feb 20, 2021 6:47 PM UTC

This grant?

https://www.irs.gov/newsroom/cares-act-coronavirus-relief-fund-frequently-asked-questions

 

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qbteachmt
qbteachmt
Level 15
Feb 20, 2021 6:50 PM UTC

Oh, I found this one:

https://www.irs.gov/newsroom/frequently-asked-questions-about-taxation-of-provider-relief-payments

 

Don't yell at us; we're volunteers
    JMLAuthor
    Level 2
    Feb 21, 2021 5:58 PM UTC

    Thank you so much for sharing and the effort of looking up

    bm87_2
    Level 4
    Feb 3, 2023 5:27 PM UTC
    What is the HHS stimulus payment taxable?
     
    Has any one done in Pro-series
     
    If you or your practice are not tax-exempt and you received and kept such funds, you have two options: (1) include the funds in your taxable income and pay the 21% tax rate or (2) return the funds to HHS.
    Jul 15, 2022
    qbteachmt
    qbteachmt
    Level 15
    Feb 3, 2023 6:54 PM UTC

    @bm87_2 

    "What is the HHS stimulus payment taxable?"

    Did you click any of the provided links, to read about these grants?

    "Has any one done in Pro-series"

    You are asking in a Lacerte topic. Perhaps you want to start this as your own, new, topic in the Pro Series section of this community.

    Don't yell at us; we're volunteers
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