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  • State tax "rebate" -- Federal taxable income?

    From Stan Brown@the_stan_brown@fastmail.fm to alt.usenet.offline-reader on Tue Jan 17 10:19:24 2023
    From Newsgroup: alt.usenet.offline-reader

    From the New York Times <https://www.nytimes.com/2023/01/13/your- money/tax-refund-credit-irs.html>:

    "Also in 2022, some states with budget surpluses have been issuing
    tax rebates to residents. While there has been some confusion about
    whether such payments count as taxable income on 2022 federal
    returns, that is not the case, said Richard Auxier, senior policy
    associate at the Tax Policy Center. ..."

    I tried to find confirmation of this on the IRS website, but without
    success; I also failed to find anything relevant at the Tax Policy
    Center. (Possibly I didn't hit on the right search terms.) Can
    someone point me to the right place on irs.gov?

    Please note, we're not talking about a refund on an overpayment of
    taxes -- I know that would not be taxable income for me because I
    have taken the standard deduction for the past few years. But the
    "rebates" are giveaways from states to the public.
    --
    Stan Brown, Tehachapi, California, USA https://BrownMath.com/
    Shikata ga nai...
    --- Synchronet 3.21d-Linux NewsLink 1.2
  • From Stan Brown@the_stan_brown@fastmail.fm to alt.usenet.offline-reader on Wed Jan 18 18:06:42 2023
    From Newsgroup: alt.usenet.offline-reader

    My apologies -- this was intended for misc.taxes.moderated. I don't
    know how I screwed up and posted it here, but obviously I did. Pl
    ease disregard.

    On Tue, 17 Jan 2023 10:19:24 -0800, Stan Brown wrote:

    From the New York Times <https://www.nytimes.com/2023/01/13/your- money/tax-refund-credit-irs.html>:

    "Also in 2022, some states with budget surpluses have been issuing
    tax rebates to residents. While there has been some confusion about
    whether such payments count as taxable income on 2022 federal
    returns, that is not the case, said Richard Auxier, senior policy
    associate at the Tax Policy Center. ..."

    I tried to find confirmation of this on the IRS website, but without success; I also failed to find anything relevant at the Tax Policy
    Center. (Possibly I didn't hit on the right search terms.) Can
    someone point me to the right place on irs.gov?

    Please note, we're not talking about a refund on an overpayment of
    taxes -- I know that would not be taxable income for me because I
    have taken the standard deduction for the past few years. But the
    "rebates" are giveaways from states to the public.
    --
    Stan Brown, Tehachapi, California, USA https://BrownMath.com/
    Shikata ga nai...
    --- Synchronet 3.21d-Linux NewsLink 1.2