The Conservative Cave
Current Events => The DUmpster => Topic started by: CC27 on August 18, 2023, 06:38:57 AM
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question everything (45,710 posts)
We got the Money from the state
$520. Now I wonder whether this is taxable.
Will more than cover the high electricity and water cost.
From the Dept. of Revenue
https://www.revenue.state.mn.us/direct-tax-rebate-2021
This payment is not taxable on your Minnesota income tax return and will not be taken to pay any unpaid tax or debts we collect for other agencies.
We've requested guidance from the IRS to determine if the rebate is taxable on your federal return, and will relay their decision when we receive it.
OKay...
https://www.democraticunderground.com/105912876
DUmmie bragging about a welfare payment.. :whatever:
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We got the Money from the state = We stole the money from people that pay taxes!!
Parasites.
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We got the Money from the state = We stole the money from people that pay taxes!!
Parasites.
No, they just look at it like it’s their fair share :thatsright: :argh:
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No, they just look at it like it’s their fair share :thatsright: :argh:
Lurking DUm'Rats: Please define what portion of the fruits of MY labors equates to "YOUR fair share", for future reference.
K Thx Bye. :bigbird:
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I'm not a CPA, nor do I play one on TV, but if the DU OP is about a state-level income tax refund, I believe it may be taxable at the Federal level.
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I'm not a CPA, nor do I play one on TV, but if the DU OP is about a state-level income tax refund, I believe it may be taxable at the Federal level.
If that is what it is talking about, which I doubt because refunds would have been sent out months ago, yes if the DUchebags itemize on schedule A then the refund is taxable on their next years 1040. If they took the standard deduction no federal tax on the amount.
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Even if this monies were not subject to taxation, I'm surprised to learn that any of the DUmmies would not insist on paying it anyway. I mean tax is good for the soul, isn't it?
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I’m surprised mvd hasn’t asked how he can get his money :lmao: :lmao: :lmao: :lmao:
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I'm not a CPA, nor do I play one on TV, but if the DU OP is about a state-level income tax refund, I believe it may be taxable at the Federal level.
As a CPA, the IRS deems with their typical legal mumbo jumbo that state tax refunds "MAY" be taxable at the federal level. I could provide a link but I'd be willing to bet no one will read it.
Which means it is a total gray area. For a low income DUmmy most likely being a very tiny fish, the IRS normally doesn't care about such issues.
Other than the textbooks which detail theory and history that still retain relevant information, the most expensive textbook and ultimately worthless ones we were required to purchase were ones such as "Intro to Tax Accounting 1991". By the time they were printed, the tax laws had already changed because Congress constantly changes the arcane tax laws.