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The Internal Revenue Service (IRS) finally issued guidance regarding the federal tax status involving special payments made by 21 states in 2022, determining that taxpayers in many states will not...
Although the federal government did not issue any economic impact payments -- aka stimulus checks -- in 2022, some states took it upon themselves to offer financial relief to eligible residents to...
South Carolina: The state governor approved the tax refund for 2022 for state residents up to $800. Taxpayers only received the rebate if they incurred tax liability on their 2021 income tax return.
The IRS has determined whether the South Carolina tax rebate issued in 2022 is taxable on the federal level. Here are the details.
Gross Collections indicates the total federal tax revenue collected by the IRS from each U.S. state, the District of Columbia, and Puerto Rico. The figure includes all Individual federal taxes and Corporate Federal Taxes, income taxes, payroll taxes, estate taxes, gift taxes, and excise taxes.
Most taxpayers in the 21 states that sent out stimulus checks or tax rebates in 2022 don’t need to pay taxes on those payments on this year’s federal tax return, the Internal Revenue Service ...