CA Middle Class Tax Refund - Form not received

[bohueilin]

Dear Community,

I have received Middle Class Tax Refund debit card in Jan 2023 and have not yet received any tax form (1099)

Question 1: I wonder if anyone experienced similar and can share their experience on the delta between card vs. receiving the tax form.  Is it like one month, etc?

Question 2: Is there anyway to obtain the form electronically?

Thanks

[Bsch4477]

If the amount was over $600 and you didn’t get from 1099-misc then you will get it for tax year 2023.  In any event, it will not be known if the rebate is federally taxable until we hear from the IRS next week. 

[bohueilin]

Thank you so much!

I checked the debit card balance and it was stated $600.

Does that fall into your bucket (over $600)

> In any event, it will not be known if the rebate is federally taxable until we hear from the IRS next week. 

Question:  Are we expecting any updates from Fed? on this  Which Date will we get the update? ? Thank you so much that i did not realize this is coming.  I will search around..

Thank you so much Bsch4477!

[Bsch4477]

The form is for over $600. We are supposed to get guidance from the IRS sometime next week. 

[MonikaK1]

The MCTR is not taxable on the CA tax return, but no guidance has been provided by the IRS as yet as to whether or not it is taxable on the federal tax return. Depending on the amount you received, the California Franchise Tax Board may not issue you a  Form 1099.

The IRS announced yesterday that they are working on this issue and expect to have guidance soon as to whether these payments are taxable on the Federal return. See here for further explanation from the IRS. 

You may wish to wait to file the Federal return until the IRS issues further guidance and corresponding enhancements are made to TurboTax.

[bohueilin]

Thanks..

I believe the highest return is $600.

What do we mean by over $600?  Does that mean we will not receive any 1099 form at all?

I believe some people have received previously from my reading in other questions (within the forum)

[bohueilin]

Thank you 🙏

[bohueilin]

To clarify,

I think you mean to say that 1099-MISC will require over $600, meaning the form will be sent out only when we have exceed that threshold,

Therefore, there will be *no* for the CA Middle Class Tax Refund - Form?

Thanks

[bohueilin]

This was announced today (2/10)

TL;DR No need to pay tax

https://www.irs.gov/newsroom/irs-issues-guidance-on-state-tax-payments-to-help-taxpayers

[bohueilin]

This was announced today (2/10) 🙂

TL;DR No need to pay tax 🙂

https://www.irs.gov/newsroom/irs-issues-guidance-on-state-tax-payments-to-help-taxpayers