A week after announcing it was reviewing the taxability of one-time payments made in several states, the IRS said Friday evening that it determined Massachusetts will fall into the same category excluding most refunds from counting toward income.
The agency recently issued new guidance on how the Chapter 62F tax rebates will impact their federal taxesMany, but not necessarily all, Massachusetts taxpayers will not need to count one-time state tax rebates they received last year as income when they file federal tax returns, the Internal Revenue Service said.
"If the payment is a refund of state taxes paid and either the recipient claimed the standard deduction or itemized their deductions but did not receive a tax benefit the payment is not included in income for federal tax purposes," the IRS said about Massachusetts and those three other states.
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