Millions 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.
California taxpayers got some great news today from the IRS: the federal government will not tax those Middle Class Tax Refunds after all.California taxpayers got some great news Friday from the Internal Revenue Service. The federal government will not tax those Middle Class Tax Refunds after all.
The state issued more than 16 million payments to Californians ranging from $200 for singles up to $1,050 for families. "The IRS just issued just a few minutes ago a notice that taxpayers in California will not need to report the payments on their 2022 tax returns," said Norman Golden, IRS enrolled agent. "My clients and taxpayers in California will be very happy the IRS is not going to tax them on these payments."
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