Residents in some states may be eligible for supplementary economic payments before the national tax-filing deadline.
While the third batch of economic stimulus payments was distributed to eligible Americans last year, those who did not receive one may be able to apply for one before the April 18 tax-filing deadline.
Furthermore, some states have passed laws to provide residents with additional financial payments when their taxes are filed on Monday.
In March, Governor Brian Kemp of Georgia approved a measure to provide additional economic rewards to qualified Georgia households once they file their taxes.
The governor’s office said that “HB 1302 will provide a one-time tax credit for taxpayers who submitted income tax returns for both the 2020 and 2021 taxable years.”
According to the announcement, the state’s revenue department will send additional credit whenever taxpayers submit their taxes for 2021. Couples will earn $500, while single taxpayers will receive $250. According to the governor’s office, a taxpayer designated the head of the household will receive a $375 payout.
“I believe that when the government collects more money than it needs, those dollars should be returned to the taxpayer because it is your money, not the government’s,” Kemp previously stated.
Similar legislation was approved in Indiana, where Governor Eric Holcomb declared that residents who file their taxes in 2021 will receive a “125 Automatic Taxpayer Refund.”
“In December, the Governor stated that an estimated 4.3 million taxpayers will receive a $125 refund when they file their 2021 taxes. A total of $545 million will be returned to Indiana residents. Following the April 18 tax-filing deadline, the Department of Revenue, in collaboration with the Auditor of State’s Office, will begin awarding refunds via direct deposit or paper check, “According to a statement released by Holcomb’s office earlier this month.
Residents of New Mexico may be eligible for a tax refund after submitting their taxes on Monday, thanks to legislation approved by Governor Michelle Lujan Grisham in March. Single taxpayers will receive a $250 one-time tax rebate, while married taxpayers will receive a $500 one-time tax rebate.
After filing their 2021 taxes in New Jersey, specific households will be entitled to up to $500 in tax rebates. According to Forbes, New Jersey Governor Phil Murphy and the state legislature earlier approved a budget that provided $500 tax rebate cheques to about 1 million families. According to Forbes, Murphy included another one-time $500 refund payment last month for people who file their taxes using a taxpayer ID number rather than their social security number.
Before that, Idaho Governor Brad Little approved a bill allocating $350 million in tax rebates to qualified people.
“The reimbursement is available to any Idaho resident who was a full-year resident in 2020 or 2021 and submitted an Idaho individual income tax return or a Form 24 for those years. Non-residents and part-time residents are not permitted to participate. “In a frequently asked question form, the Idaho tax commission stated.
The rebate amount will be $75 per taxpayer and dependent, or 12% of their 2020 taxes, whichever is greater.
In addition to the five states that have already approved additional economic payments after the April 18 tax-filing deadline, more states have identical bills pending before their legislatures. According to Forbes, California, New York, Hawaii, Kansas, Kentucky, Maine, Minnesota, Pennsylvania, and Virginia have proposed similar measures to offer people additional economic payments. Residents may receive further payouts in the coming months if these plans pass in the states.