IRS Think Americans Should delay filing taxes until further notice

As Americans start filling their taxes, IRS want taxpayers to hold off on filling 2022 returns until they give the green light.

In 2022, almost 20 states offered diverse programs that gave out inflation relief payments or refunds for taxpayers. The IRS has issued the guidance due to the agency’s uncertainty about the taxability of the payments.

States like California and Illinois, are recommending that taxpayers hold off on filing their tax returns until they receive further instruction from the IRS. But don’t let that scare you, we don’t want the people going crazy over this situation.

Certain states that provided these refunds have determined that these payments are not taxable for most people. What needs to be determined is if these refunds are taxable on the federal level for taxpayers in America.

In some of these states, most people will get taxed if they received a tax refund in 2022 if they itemize their deductions.

Hopefully things don’t get out of control, due to this new notice IRS has sent out to the people.