IRS won’t tax most relief payments made by states last year
The states where the relief checks do not have to be reported by taxpayers include Pennsylvania
In Pennsylvania, the largest cities collected the most in federal pandemic relief money, with the 130,000-student Philadelphia public schools receiving nearly $1.8 billion, or 10 times more than any other district.
School districts must use at least 20% of the money to address learning loss from the pandemic as well as support the “social, emotional, and academic needs of underrepresented students.”
Instead of simply reducing the tax burden, the credit will be dispensed in periodic payments to people who qualify, functioning sort of like a version of temporary universal basic income for families with kids.
The entrepreneurial spirit is a big deal in Chester, a formerly industrial city of 34,000 that has been facing declining population and loss of local businesses for decades.