The tax refunds were sent out by Massachusetts earlier this month. About 1.3 million reimbursements worth more than $1.2 billion have already been sent by the state as of last week.
Many qualified taxpayers are still waiting for their Massachusetts tax refund, despite the fact that the state sends payments to them every week.
Who is Eligible for Tax Rebates in Massachusetts?
If you fall under this category, all the information you want regarding the timing of your refund payment is provided below. The Baker Administration said in October that eligible taxpayers will receive a tax credit based on their 2021 tax return.
This refund is a result of Chapter 62F, which mandates that any excess funds must be given back to the taxpayers. Since 1987, the Commonwealth has only had a surplus of almost $3 billion twice.
The reimbursement was first distributed by Massachusetts earlier this month. The expected number of taxpayers who will benefit from the one-time tax rebate from Massachusetts is 3 million.
The state Department of Revenue reports that approximately 500,000 payments were sent out in the first week and that a million more will be sent out each week through the end of the year.
There is no defined pattern to the distribution of the Massachusetts tax rebate. So, if you haven’t received the rebate yet, don’t be concerned. According to the authorities, the refund money would be automatically given to eligible taxpayers who have already submitted their 2021 tax return and had a tax liability by mid-December.
Taxpayers who submitted their returns by October 17, 2022, will receive their refunds by mid-December. Those that filed their income tax returns by September 15, 2023, but missed the October 17 deadline, should receive the rebate roughly one month after doing so.
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Massachusetts Tax Rebate Schedule
The Massachusetts Department of Revenue estimates that for Tax Year 2021, taxpayers will get a refund equal to around 14% of their personal income tax payment in Massachusetts.
This is because, according to the State Auditor’s report, net state tax collections were $2.941 billion higher than authorized revenues. After the filing deadline in October, the Department of Revenue decided on the percentage.
Residents can contact 877-677-9727 or visit a newly created website to estimate their refund. Taxpayers who submitted their state income taxes by October 17, 2022 began receiving direct transfers and paper cheques on November 1.
Until December 15, refunds will be distributed on a rolling basis, according to an executive office of administration and finance official.
The label MASTTAXRFD will appear on your bank statement for refunds that are issued by direct deposit. The Department of Revenue website states that checks issued by mail will contain details on Chapter 62F and the reasons the recipient qualifies.
If you file your state income tax return by September 15, 2023, after the deadline of October 17, but before that date, you will still be eligible for the rebate.
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