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In a press release issued Feb. 10, the IRS clarified the tax status of special state-administered payments to millions of residents in 21 states, determining “that in the interest of sound tax ...
The Internal Revenue Service is sending unclaimed stimulus checks of up to $1,400 to 1 million US taxpayers in the coming weeks. Here’s why the payments are going out — and how to find out if ...
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 payments amount were $250 or $500, depending on filing status, and were capped by the lesser of those amounts or the total tax liability on their 2020 return.
As many as 1 million taxpayers will receive a "special" year-end gift from the IRS as the agency deposits pandemic-era stimulus checks worth a total of $2.4 billion directly in their bank accounts ...
The IRS says on its website that eligible individuals who did not receive the full amount of both economic impact payments may claim the Recovery Rebate Credit on their 2020 Form 1040 or 1040-SR.
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 is expected to provide more guidance on whether stimulus checks states issued in 2022 are considered taxable income on federal returns. The IRS is expected to provide more guidance on ...