00:00Hold your horses. The IRS doesn't want you to pay your taxes just yet.
00:04Long story short, the IRS is scrambling to figure out if state-issued stimulus checks and rebates sent out in
00:112022 are taxable at the federal level.
00:15At least 19 states gave relief payments for different reasons, some due to rising prices pushed by inflation, while others
00:23consider the payments pandemic relief, reports Money Talks News.
00:26California, for example, issued $9 billion through its middle-class tax-free fund worth on relief that the state says
00:34are not taxable at the state level.
00:36But it's unclear whether the IRS will consider the payments federally taxable.
00:41If you received aid, the rules surrounding these payments are complex.
00:45Until the IRS says to file, be patient, sit tight, and follow the IRS's advice.
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