You can receive a portion of the over $3 billion in tax refund “stimulus” money that Massachusetts will distribute in November if you paid your personal taxes in Massachusetts for 2021 and filed your Massachusetts tax form by Sept 15, 2023. This Massachusetts rebate for 2022 is part of a current pattern where governments are distributing state “stimulus” payments and tax rebates to their citizens who have earned post-pandemic budget surpluses.
Apply For Your Stimulus Check
For instance, the second round of up to $1,050 California stimulus check payouts is presently in progress. Additionally, Virginians can get a tax “stimulus” rebate of up to $500 if they file the 2021 State tax return before November 1. However, it’s crucial to keep in mind that the Massachusetts 2022 tax refund program differs slightly from other states’ “stimulus” initiatives in that qualified Massachusetts taxpayers will get a different sum of cash in their tax rebate checks.
This is due to the fact that Massachusetts will send each eligible taxpayer a check or set up a direct deposit for a sum equal to around 14% of their state income taxes owed from the 2021 tax return. Well, the Chapter 62F law was approved by Massachusetts voters in 1986. According to that statute, Massachusetts must reimburse taxpayers for any unused funds. For the very first time in a while, the statute was activated since Massachusetts received $41,812,654,358 in state tax income during the 2022 fiscal year.
As a result, Massachusetts will refund over $2.9 billion in surplus revenue to qualified taxpayers this year in accordance with state law.
Massachusetts anticipates sending out around 500,000 Stimulus Checks this week. After that, till all of the surplus revenue monies have been distributed to qualified taxpayers, around one million reimbursements will be issued each week.
