Many families that were affected by the Red Hill water crisis are outraged that the money they received from the military for temporary housing is considered income and that they are being slapped by the IRS with steep taxes.
(The Center Square) – Taxpayers who received state refunds from Colorado and 20 other states will not be required to report those payments on their 2022 federal Internal Revenue Service
The Internal Revenue Service decided Colorado’s Taxpayer’s Bill of Rights refunds are not subject to the federal income tax and don’t need to be claimed after multiple Colorado officials decried the possibility. On Feb. 3, the IRS.