COLORADO — The Internal Revenue Service (IRS) of the United States of America released clarification Friday on whether the TABOR Refund checks would be considered taxable.
The decision comes after the IRS informed citizens in multiple states across the country to hold off on filing their taxes. The move came as the IRS was determining whether or not special payments made by 21 states across the country were taxable.
The IRS has determined that these payments will not need to be reported on people's 2022 tax returns.
"We, like millions of Coloradans, are breathing a sigh of relief that the IRS and federal government have stepped away from taxing our refunds this year. I will continue fighting to maintain this precedent that refunds under TABOR should never be taxed," said Governor Jared Polis on Twitter Friday.
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