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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...
The IRS has determined whether the South Carolina tax rebate issued in 2022 is taxable on the federal level. Here are the details.
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...
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 ...
Another reason California’s payments could be taxable on the federal level is that high-income individuals also qualified for the checks. Joint filers earning up to $500,000 received as much as ...
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 provided guidance on how taxpayers in some states should handle special tax refunds or payments sent to households in 2022 as a way to deal with soaring inflation, ongoing COVID-19...
Connecticut: Child Tax Rebate. Delaware: Relief Rebate Program. Florida: Pandemic Temporary Assistance to Needy Families. Hawaii: Act 115 Refund. Idaho: 2022 Tax Rebate. Illinois: Individual ...