On Thursday, 3 million Massachusetts residents will receive 14% tax rebates.
Massive Tax Rebate
A 14% worth of rebates of what residents from Massachusetts paid in state income taxes are set to arrive for every taxpayer. In November, most taxpayers already received their tax rebate, however, some are still waiting, according to WBUR. Good news for those who did not receive it because on Thursday, according to GBH News, anyone who has still not received their rebate will finally have it then.
People will receive a fixed percentage of their paid income tax as a total amount from the rebates, thus those who have higher incomes will receive much more than lower earners. People who make $35,000 annually, will receive $200 from this rebate, while people who make $1 million every year will receive $7,000 from this rebate.
The Tax Rebates Will Be Sent To Taxpayers’ Bank Accounts
The rebates will be transferred directly to every taxpayer’s bank account through direct deposit or check payment will receive in the mail. Those qualifying individuals will receive roughly 14% back of what they paid in state income taxes.
Taxpayers still have time to apply for the rebates. The Sept. 15 next year will be the filing deadline, as a result of this, payments relating to this rebate will be made long into 2023.