Chapter 62F is a Massachusetts General Law that requires the Department of Revenue to issue a credit to taxpayers if total tax revenues in a given fiscal year exceed an annual cap tied to wage and salary growth in the Commonwealth.
According to IRS guidance issued February 10, 2023, 62F refunds are excluded from income for federal purposes if “the recipient claimed the standard deduction or itemized their deductions but did not receive a tax benefit (for example, because the $10,000 tax deduction limit applied).” IRS News Release 2023-23. Refund recipients who itemized on their federal returns for Tax Year 2021 will receive a Form 1099-G from the Department of Revenue.
Report. Mass.gov
Enter form 1099-G on your return and Turbo Tax will calculate the taxable amount.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
