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Some states have issued stimulus relief checks, such as California's Middle Class Tax Refund (MCTR) payment. But whether these are taxable or not is unclear and is creating a lot of confusion,...
Were a California resident for six months or more of the 2020 tax year. Are a California resident on the date the payment is issued. The MCTR is based on 2020 state income tax returns, filing ...
To help California residents battle inflation, the state started sending Middle-Class Tax Refund (MCTR) payments early October. However, some residents are still waiting for the one-time payments ...
Here’s an update about what to look out for in certain states regarding stimulus payments as of May 2023. California. ... Filed your Individual Income Tax Return for tax year 2021 and tax year ...
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 ...
The IRS will send an estimated $2.4 billion to taxpayers who didn’t claim the recovery rebate credit on their 2021 tax returns. About 1 million taxpayers were eligible for the credit but failed ...
Early filers who reported certain state stimulus or relief payments as income on their 2022 federal income tax return paid too much tax. ... California: Middle Class Tax Refund. Colorado: Colorado ...
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 ...