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Do You Have To Pay Taxes On State Refunds
Do You Have To Pay Taxes On State Refunds -
Most taxpayers receiving state tax refunds do not have to include the state tax refund in income for federal tax purposes As a general rule taxpayers who choose the standard deduction on their federal income tax returns do not owe federal income tax on state tax refunds
It is possible that your state refund is taxable income You may need to claim all or part of it if You received a state or local income tax refund credit or offset You itemized deductions on your federal income tax return You had the option to choose to deduct either state and local income taxes or general sales taxes
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Do I Need To Pay Taxes The Minimum Income To File Taxes
Do I Need To Pay Taxes The Minimum Income To File Taxes
For these individuals state payments will not be included for federal tax purposes 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 actual tax refunds are normally paid on the tax refund days from July to December You can check the amount and date of payment of your tax refund in your tax decision and in MyTax So the small amount paid to you is not an error and it does not require any action from you
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The Union Role In Our Growing Taxocracy California Policy Center
The Union Role In Our Growing Taxocracy California Policy Center
Generally refunds of state taxes paid by individuals are only federally taxable to the extent a federal benefit was claimed for paying state taxes
Is my state or local refund taxable None of your refund is taxable if in the year you paid the tax you either a did not itemize your deductions or b elected to deduct state and local general sales taxes instead of state and local income taxes
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https://www.hrblock.com/.../is-a-state-refund-taxable
It is possible that your state refund is taxable income You may need to claim all or part of it if You received a state or local income tax refund credit or offset You itemized deductions on your federal income tax return You had the option to choose to deduct either state and local income taxes or general sales taxes
https://blog.turbotax.intuit.com/tax-tips/is-my...
In general if you didn t deduct state and local income taxes last year you don t need to pay taxes on your refunds this year For instance if you didn t itemize your deductions in 2006 you took the standard deduction then your state refund is tax free this year http blog turbotax intuit 2007 02 24 is my state tax refund
It is possible that your state refund is taxable income You may need to claim all or part of it if You received a state or local income tax refund credit or offset You itemized deductions on your federal income tax return You had the option to choose to deduct either state and local income taxes or general sales taxes
In general if you didn t deduct state and local income taxes last year you don t need to pay taxes on your refunds this year For instance if you didn t itemize your deductions in 2006 you took the standard deduction then your state refund is tax free this year http blog turbotax intuit 2007 02 24 is my state tax refund
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