The Middle Class Tax refund issued by the state of California will not be considered taxable income.
The Los Angeles Times broke the news that the federal Internal Revenue Service has decided against taxing the refund payments. The taxable status of the money was under consideration, and the IRS had asked Californians to wait on filing their taxes until the matter could be resolved.
The report says that recipients of the refund can ignore the 1099-MISC form sent out in January by the California state Franchise Tax Board.
