State Tax Refund

State Tax Refunds

Executive Summary about Tax Refund by Eddie Tobey

In the state of California, for example, refunds averaged around $760.

As a general rule, though, low-income individuals and families could claim property-tax refunds or rent credits if they filed income tax returns.

Are state tax refunds taxable? State tax refunds are typically taxable the year you receive them. If you overpaid your state income tax last year and your state returned your money this year, for example, you must pay taxes on it this year.

The state tax refund is fully taxable if you detailed the deductions on your federal tax returns. You do not have to pay taxes on the state refund you received.

Where to Trace Your IRS Refund

Executive Summary about Tax Refund by Chris Keenard

What information is available in this section?

You can track refund information on the most current tax year you filed. Also, even if you filed the previous year’s tax return AFTER filing the current year’ return, information on the previous year would still not be available. So, if you filed, your 2007 return after filing your 2008 return, the information available on the website will only be for the 2008 return.

If you filed after July, the information will be available throughout the next year until you file your tax return for a more current one.

Apart from tracing your refund information, the IRS website can also be used for jointly filing federal and state tax returns.

Check out my other posting on: Tax Refunds

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