One of the biggest concerns that everyone has this year is all the Covid-19 pandemic assistance money being claimed on their taxes. The only assistance money to be claimed on your taxes is the stimulus, but not as income.
Stimulus Checks - The stimulus checks have always been a 2020 tax rebate. This means that if you did not get the stimulus check during summer 2020, and/or Dec 2020/Jan 2021, then you will get it on your 2020 taxes (if eligible). The stimulus is not taxed, and is based on your 2020 income; as well as single or married and number of dependents.
EIDL Grant and/or Loan - The grant is a tax free income for the businesses, or independent contractors, who applied and received it. The loan is just that, a loan. It is a long term liability, with a 30-year payback period; there is no early payback penalty, so you can always back this pack sooner. This does not get claimed as income on your tax return.
PPP Loan - The PPP loan is in place to help businesses be able to pay their employees and keep the unemployment rate down. This loan has a possibility to be forgiven, if at least 60% of the funds were used for payroll; whereas the rest of the funds are to be used for business mortgage or utilities. This loan, similar to the EIDL loan, is not taxable income, but is a short term liability. If the loan isn't forgiven, then it is due within two years. This does not get claimed as income on your tax return.
In conclusion, none of the pandemic assistance is taxable income. The stimulus is reported to be sure the correct amount is received, and the loans will only be listed (if applicable) on a balance sheet. So don't worry about filing your taxes, just be sure to get them filed onetime to avoid interest and/or penalties.
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