Money Matters:Will I have to pay back my stimulus check?

As people start to receive their stimulus payments, many are wondering if they'll have to pay that money back in the future.

The answer is no.

According to Business Insider, the stimulus check, in which the IRS has named "economic impact payment," is no-strings-attached government aid.

The stimulus payment is not an advance of your tax refund and will not lower your tax refund this year or next.

The stimulus checks are based off of your gross income reported either on your 2018 or 2019 tax return.

The payments phase out the more money you earn.

Let's say you make more money in 2020 than you did in 2019 or 2018, you will not have to pay back your stimulus check.

Similarly, if you made too much money in 2018 or 2019 to qualify for a stimulus check, but now make less than in 2020, you will receive the stimulus payment after you file your 2020 taxes.