Most residents in states that distributed some kind of stimulus payments or tax rebates last year don’t have to report them on their federal returns. But some residents in four states do — largely because of how their states designed these payments. Taxpayers in Georgia, Massachusetts, South Carolina, and Virginia who received state tax refunds and claimed the state and local tax (SALT) itemized deduction without surpassing its cap have to pay federal taxes on those payments, according to a...

The Internal Revenue Service is expected to provide more guidance this week on whether stimulus checks that states issued in 2022 are considered taxable income on federal returns. The agency urged taxpayers who are uncertain about the taxability of their state’s payments to hold off on filing their federal taxes until guidance is released, according to the agency’s announcement. How these payments are treated could affect residents in at least 19 states that issued tax rebates after a revenue...

So much for President Trump’s pledge of “insurance for everybody.” The Congressional Budget Office said on Monday that next year 14 million fewer Americans will have insurance if the Affordable Care Act, or Obamacare, is repealed and replaced on the terms the president is seeking. That tally would rise to 21 million in 2020 and 24 million in 2026. By then, the total number of uninsured Americans would reach 52 million. And for what? To give a gigantic tax cut to wealthy Americans. According...