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FAQ on the Federal Taxation of State Income Tax Refunds for PTET Payments

Jul 25, 2024 · 1 min read

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Currently, there is a lack of IRS guidance regarding the federal tax treatment of a refund of a pass-through entity tax (PTET) payment to an individual taxpayer. There is confusion about whether and how the refund of a PTET payment to an individual taxpayer is federal taxable income under the tax benefit rule.

The IRS has only provided Notice 2020-75, and no other guidance regarding PTE federal tax issues, including on the federal tax treatment of PTET refunds, has been

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Tax

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Individual Income Taxation
Partnership & LLC Taxation
State & Local Tax (SALT)
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