TAX INFORMATION

Reporting your 2023 Dividend of $1,312 for Federal Tax Purposes

Dividends for Adults are taxable for federal income tax purposes. Depending on the amount of the dividend, your child’s dividend may be taxable. Even if part or all of your dividend was garnisheed, the entire amount of the dividend must be reported as taxable income. If you fail to report the PFD on your federal income tax return, a negligence penalty or other sanctions may be imposed on you. 

The 2023 Permanent Fund Dividend (PFD) amount is $1,312. 
The state's Federal Tax Identification number is 92-6001185.

The PFD Division's mailing address is:

Permanent Fund Dividend Division
PO Box 110462
Juneau, AK 99801-0462

The Permanent Fund Dividend Division does not provide tax advice to dividend recipients. Contact the IRS by calling 1 (800) 829-1040 or a tax preparer in your area for additional information.

Reporting your 2022 Dividend of $3,284 for Federal Tax Purposes

Dividends for Adults are taxable for federal income tax purposes. Depending on the amount of the dividend, your child’s dividend may be taxable. Even if part or all of your dividend was garnisheed, the entire amount of the dividend must be reported as taxable income. If you fail to report the PFD on your federal income tax return, a negligence penalty or other sanctions may be imposed on you. Due to recent IRS guidance, the entire amount of the 2022 dividend is not taxable, please read asterisk (*) area below.

The 2022 Permanent Fund Dividend (PFD) amount is $3,284.
The taxable* amount of the 2022 PFD is $2,622.
The portion of the 2022 PFD that is not taxable* is the energy relief portion of $662.

The state's Federal Tax Identification number is 92-6001185.

The PFD Division's mailing address is:

Permanent Fund Dividend Division
PO Box 110462
Juneau, AK 99801-0462

*On February 10, 2023, the IRS issued guidance that changes the portion of the 2022 dividend amount that is taxable. Alaska Department of Revenue has issued a DOR Press Release - DOR Response to IRS Guidance on 2022 PFD.

If taxes were withheld from your or your child's PFD, report the withheld amount on IRS form 1040 on the line for "Federal Tax Withheld." If a refund is due after you report the dividend and taxes withheld, the IRS will issue any refund due.

The Permanent Fund Dividend Division does not provide tax advice to dividend recipients. Contact the IRS by calling 1 (800) 829-1040 or a tax preparer in your area for additional information.

Backup Withholding

During May, a list of applicants and their Social Security numbers are submitted to the Internal Revenue Service for Taxpayer Identification Number (TIN) matching. Those applicants whose information on file with the PFDD does not match the information on file with the IRS are flagged. These applicants have the opportunity to correct their information during the summer months. Those applicants that do not correct their information will be subject to a 24% IRS backup withholding when their PFD is issued.

Backup withholding also applies if no Social Security number is provided.

To obtain tax documents for paid PFDs or to update your personal information, sign in to myPFD.

2022 PFD and Energy Relief Payment

The amount of the 2022 Permanent Fund Dividend is $3,284.00, which includes the Energy Relief Payment. 

• Is the 2022 Energy Relief Payment included in the dividend distribution?
  • Yes, the Dividend and Energy Relief will be combined as one payment, per the passage of House Bill 281 in 2022. The Energy Relief portion will also be applied to deductions of an applicant's Dividend, which could include charitable contributions, Alaska529 college savings, backup withholding, garnishments, and/or assignments.

2023 Permanent Fund Dividend Allocation

An individual is not eligible for a dividend when, during all or part of the calendar year immediately preceding that dividend year, the individual was:

• sentenced as a result of a felony conviction; or
• incarcerated as a result of a felony conviction; or
• incarcerated as a result of a misdemeanor if the individual was convicted of a prior felony, or two or more prior misdemeanors.

Total funds that would have been paid as 2023 dividends to individuals not eligible under this provision equaled $25,109,500.

The legislative purpose for making these individuals not eligible to receive a dividend is to:

• obtain reimbursement for some of the costs imposed on the state criminal system relating to incarceration or probation; and
• provide funds for services for and payments to crime victims, and for grants for the operation of domestic violence and sexual assault programs.
  

Total funds appropriated for FY 2023 under this purpose are:

• Restorative Justice Account                                                                                   $ 21,343,100
• Capitalization of Crime Victims Compensation Fund & Behavioral Health            $  3,766,400

Total appropriations                                                                                                                        $  25,109,500