Anyone who included the refund as taxable income using a 1099 should consider refiling.
By Feb. 10, two weeks after the tax filing season began, the IRS issued official guidance,“In the interest of sound tax administration and other factors, taxpayers in many states will not need to report these payments on their 2022 tax returns,” the IRS said on Feb 10.
The IRS said that after a review, it determined it “would not challenge the taxability of payments related to general welfare and disaster relief.” Also, if you’re filing an amended 2022 return, the IRS reminded us Tuesday that those can be filed electronically withOn Feb. 9, the IRS announced that people electronically filing a Form 1040-X would “for the first time be able to select direct deposit for any resulting refund.”
The IRS began accepting Form 1040-X electronically in 2020, but until 2023 did not offer direct deposit as an option for a refund.Internal Revenue ServiceIf you still haven’t gotten a Middle Class Tax Refund and believe you qualify, here are some numbers to call:
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