The Internal Revenue Service is telling some people to wait to file their 2022 tax return, a group that could represent millions of taxpayers.
The issue comes with stimulus payments paid by individual states in the last year. A host of states, including California, Georgia, Florida and Hawaii, have sent stimulus payments or rebates to residents in recent months. The payments vary, with some as high as $1,050 per person in California.
Those payments have led to tax questions, the IRS said, adding it was “working with state officials as quickly as possible to provide additional information and clarity for taxpayers.”“There are a variety of state programs that distributed these payments in 2022 and the rules surrounding them are complex,” the IRS said in a statement.
Answers on how taxes will be handled are possible a soon as next week. In the meantime, the IRS advised people “wait until additional guidance” is available before filing their returns. “For taxpayers and tax preparers with questions, the best course of action is to wait for additional clarification on state payments rather than calling the IRS. We also do not recommend amending a previously filed 2022 return,” the agency said.
If you purchase a product or register for an account through one of the links on our site, we may receive compensation.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oregon Officials Abused Their Power to Hoard Pappy Van Winkle, an Internal Investigation AllegesPappy Van Winkle makes bourbon so rare that Oregon state liquor officials colluded to hoard some of the best bottles for themselves. One bottle is 23 years old and is worth over $5,000. The question we're asking the officials who are under investigation...
Read more »
IRS won't tax most relief payments made by states last yearThe IRS says most relief checks issued by states last year won't be subject to federal taxes, providing late guidance as taxpayers have begun filing returns.
Read more »
IRS finally provides late guidance on state stimulus checksMost 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 announced.
Read more »
IRS announces California's 'Middle Class Tax Refund' will not be subject to federal taxesMillions received 1099 tax forms saying they must report the 'Middle Class Tax Refunds' as income -- however, the IRS ruled Friday you won't have to pay taxes on that income.
Read more »
IRS won't tax California 'middle class tax relief' paymentsThe IRS announced Friday that most relief checks issued by states last year aren't subject to federal taxes, providing 11th hour guidance as tax returns start to pour in.
Read more »
IRS won’t tax most relief payments made by states last yearThe IRS announced Friday that most relief checks issued by states last year aren’t subject to federal taxes, providing 11th hour guidance as tax returns start to pour in.
Read more »