Some States Still Sending Rebate Checks: Is Your State One of Them?

Some States Still Sending Rebate Checks: Is Your State One of Them?

August 1, 2023

Several states have stepped in to offer targeted relief to residents using their surplus budget funds. Over the past couple of years, many states have been providing financial aid to residents in the form of stimulus checks, child tax credits, rebates and other payments to help those struggling amid the persistently high inflation. Even now, some states are still sending or starting to send financial aid to residents. Here are the states still sending rebate checks.

States Still Sending Rebate Checks

Minnesota

In May 2023, Minnesota lawmakers signed legislation to provide one-time direct tax rebate payments. Married couples filing jointly with an adjusted gross income of $150,000 or less will receive $520, while individuals with an adjusted gross income of $75,000 or less will get $260. Additionally, eligible dependents (up to three) will receive $260 each.

Minnesota will use residents’ 2021 income tax returns or property tax returns to determine eligibility for the rebates, which will be issued this fall. The Minnesota Department of Revenue recently opened a secure online portal for residents to update their address or bank information if anything has changed since they filed their 2021 return.

Although the portal is now closed, those with questions can contact the state revenue department using this Contact Form or by calling 651-565-6595.

Montana

Montana is currently processing three types of rebate payments. The first payments are the individual income tax rebates that were part of House Bill 192, which was signed into law on Mar. 13. The state started issuing the rebate payment last month and expects to send most of those payments by Aug. 31. Married taxpayers filing jointly could receive up to $2,500, while individuals could get up to $1,250.

Second, Gov. Greg Gianforte recently signed into law House Bill 222, which will provide up to $1,350 in property tax rebates over the next two years. HB222 offers a property tax rebate of up to $675 to homeowners in 2023 and 2024. Eligible homeowners will be able to claim this year’s rebate starting Aug. 15, 2023, while the deadline is Oct. 1, 2023.

Lastly, Governor Gianforte also recently signed into law House Bill 587, which will distribute over $120 million in permanent property tax relief to homeowners.

New Mexico

New Mexico started sending rebate checks of up to $1,000 to married taxpayers filing jointly and up to $500 to eligible single filers in mid-June. This rebate is available to residents who file their 2021 state income tax return by May 31, 2024. Thus, those who haven’t filed their 2021 return yet can do so by May 2024 to claim the rebate check.

Separately, the state is also sending relief money to non-filers. Non-filers had to apply for the money by visiting the New Mexico Human Services Department portal, which is now closed. The last date to apply was June 23. The state was expected to send those rebate checks by the end of July.

This article originally appeared on ValueWalk

Sponsored: Tips for Investing

A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.

Source: Read Full Article