IRS: Residents of more than a dozen states do not need to report ‘special payments’ for welfare, disaster relief on their federal return

[ad_1] The IRS on Friday issued federal tax guidance for millions of Americans who received state rebates or payments in 2022. The announcement came about a week after the agency had urged those taxpayers to hold off on filing while it determined if the funds are taxable on federal returns. “The IRS has determined that …

IRS: Residents of more than a dozen states do not need to report ‘special payments’ for welfare, disaster relief on their federal return Read More »