The deadline is quickly coming to submit an application for Idaho tax rebates of up to $300 for single filers and $600 for joint filers.
The deadline for filing the 2020 and 2021 individual income taxes necessary to be eligible for the rebate is December 31. After that, recipients can anticipate receiving their funds in March 2023.
How to Apply for Idaho Tax Rebates?
To be eligible, applicants must have lived in Idaho for the whole calendar year of 2020 and 2021. The applicant’s financial situation will determine the precise payments.
The Idaho State Tax Commission predicts that a total of 800,000 rebates worth $500 million will be distributed. The state legislature approved the rebates in September as part of a special session. As more residents become eligible, tax officials will keep distributing the rebates, which they began doing in late September.
The office of Governor Brad Little (R-ID) highlighted that the rebates might help Idahoans who are suffering from high inflation. The rebates were a component of a $1 billion package of measures that also included tax reductions, increased investment in education, and other things.
Depending on the recipient’s request, the payments will either be sent by direct deposit or check. Applicants can use the Where’s My Rebate tool to monitor the status of their payments, and the Idaho State Tax Commission website contains more details.
Another Tax Rebate Program in Idaho
Over a thousand Americans will be eligible to submit claims for rebates valued up to $1,000. The budget for Boise, Idaho has included $1.2 million for a tax refund scheme.
The city-states that this will apply to people who qualify for the state’s Circuit Breaker Program. The Idaho State Tax Commission states that there are prerequisites for the Property Tax Reduction program, which is also known by that name.
If any of the following holds true, you might be eligible:
- Idaho resident
- Value of home less than $800,000
- After deducting medical costs, total income cannot exceed $32,230.
Additionally, if you belong to any of the following categories as of January 1, 2022, you may be eligible:
- At least 65 years old
- Former prisoner of war (POW) or hostage
- Window or widower
- A child without a father or a mother who is under 18
- Having a disability that is recognized by the Railroad Retirement Board or the Social Security Administration
However, local news source BoiseDev reports that the city of Boise is developing its own rebate program.
The eligibility requirements will be the same as for the state program, and individuals who meet them will get an application in the mail in December.
The application deadline is in May 2023. They can qualify for a $1,000 reduction in their property tax bill. This applies to about 1,200 Boise residents.