Illinois $350. rebate — taxable??
Terry,
Is the $350. rebate that we received from Governor Pritzker shortly before the November election, which probably could have been used better elsewhere (like towards pensions) considered taxable income for state and federal purposes?
I appreciate your answer to my question.
Thank you,
Terry Says
No, the IRS has just determined that the money is considered a “refund” of taxes, and thus is NOT taxable income!
