The Internal Revenue Service (IRS) has recently provided clarity on which 2022 state tax payments are non-taxable. This clarification is important for taxpayers as it will help them determine which payments will be eligible for tax rebates, relief payments, and disaster assistance.
The IRS has clarified that certain 2022 state tax payments are not taxable under federal law. This includes state income taxes paid on or before April 15, 2022, as well as certain other types of taxes such as sales and use taxes paid in 2021 or earlier.
Succentrix Business Advisors are available to provide guidance on this issue by providing the expertise to help taxpayers understand the tax laws and regulations in order to make informed decisions about their taxes. Consult with a qualified tax professional near you at Succentrix Business Advisors should you have any questions concerning your specific situation. List of tax payments covered: https://www.irs.gov/newsroom/state-payments
"Your Full-Service, Cloud-Based Accounting & Tax Professionals."
Accounting | Bookkeeping | Payroll | Tax Preparation | Tax Resolution
Business Advisory | Business Valuation