For tax rebates worth up to $300 for single taxpayers and $600 for joint filers, Idaho residents have until December 31 to apply.
The rebate legislation was enacted by the governor and state legislature of Idaho in a special session in September. Idaho governor indicated that rebates may provide financial comfort to those who are struggling with inflation.
Application Deadline
The rebates were first distributed by the state tax authorities in late September. Further payouts will be distributed as more residents become eligible, according to the Idaho State Tax Commission.
State residents must have lived in the state for a full calendar year in both 2020 and 2021. They also need to pay their individual income taxes for both years by December 31 to be eligible for this reimbursement. The amount that filers receive will differ depending on their financial situation.
Depending on their preference, residents can choose to receive these rebates either as a check in the mail or a direct transfer. Tax authorities will take any unpaid taxes to the state into account when calculating the ultimate reimbursement.
Idaho citizens can monitor the progress of rebate payments with the Where’s My Rebate service. The website of the Idaho State Tax Commission has additional information regarding the rebate.
The Idaho State Tax Commission predicts that by the end of March 2023, about 800,000 rebates worth $500 million would have been distributed.
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When to Receive Idaho Tax Rebates?
In February, Idaho Governor Brad Little signed a bill granting $350 million for tax refunds to state citizens. There were two prerequisites to be eligible. One is living in Idaho full-time and submitting tax returns for both the 2020 and 2021 tax years. Also, those living in Idaho full-time and filing tax returns for a food credit refund.
The payments began in March. For the year 2020, each taxpayer receives either $75 or 12% of their Idaho state taxes. The reimbursement was available to all taxpayers including dependents.
Taxpayers who received their tax refunds via direct deposit at first received paper rebate checks from the tax commission. Most refunds have already been distributed. On September 1, the Idaho legislature opted to adopt a new tax credit for all residents who submitted government tax returns in 2020.
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