Accounting In March of 2021, Maya (Single) received an Economic Impact Payment ("stimulus") of $1,400 based on her 2019 income tax. In April of 2021, Maya started a new job at a significantly increased salary. Her 2021 adjusted gross income of $95,000 put Maya above the maximum phaseout threshold for her filing status. Which of the following is true? Maya must: Payback the $1,400 stimulus on her 2021 tax return. Include the $1,400 stimulus as income on her 2021 tax return. Increase her 2021 withholding or estimated payments to repay the $1,400 before the end of the year. None of the above is true. Maya is not required to make any adjustment on her 2021 return?

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According to IRS regarding Economic Impact Payments to qualify to receive an impact payment an indiv... View the full answer