Taxes
Don’t File Your Returns Yet, IRS Tells Millions of Taxpayers
The issue comes with stimulus payments paid by some states in the last year, which has led to tax questions.
Feb. 08, 2023
By Leada Gore, al.com (TNS)
The IRS is telling some people to wait to file their 2022 tax return, a group that could represent millions of taxpayers.
The issue comes with stimulus payments paid by individual states in the last year. A host of states, including California, Georgia, Florida, and Hawaii, have sent stimulus payments or rebates to residents in recent months. The payments vary, with some as high as $1,050 per person in California.
Thanks for reading CPA Practice Advisor!
Subscribe for free to get personalized daily content, newsletters, continuing education, podcasts, whitepapers and more...
Already registered? Login
Need more information? Read the FAQ's
Those payments have led to tax questions, the IRS said, adding it was “working with state officials as quickly as possible to provide additional information and clarity for taxpayers.”
“There are a variety of state programs that distributed these payments in 2022 and the rules surrounding them are complex,” the IRS said in a statement.
Answers on how taxes will be handled are possible a soon as next week. In the meantime, the IRS advised people “wait until additional guidance” is available before filing their returns.
“For taxpayers and tax preparers with questions, the best course of action is to wait for additional clarification on state payments rather than calling the IRS. We also do not recommend amending a previously filed 2022 return,” the agency said.
_____
©2023 Advance Local Media LLC. Visit al.com. Distributed by Tribune Content Agency LLC.