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- Is the Rebound Idaho Grant of $7500 taxable by the IRS
Is the Rebound Idaho Grant of $7500 taxable by the IRS
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Boise83713
Level 1
03-23-2021
01:59 PM
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1 Comment 1
qbteachmt
Level 15
03-23-2021
02:16 PM
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Yes.
https://www.irs.gov/newsroom/cares-act-coronavirus-relief-fund-frequently-asked-questions
https://tax.idaho.gov/n-feed.cfm?idd=4380
Here are answers to frequently asked questions about the bonuses, grants, and jobless benefits
Why are these items taxable?
Bonuses, grants, and jobless benefits are treated as taxable income by the IRS, and since we follow IRS guidelines, they are taxable by Idaho.
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