Massachusetts Tax Refund: Who Is Eligible and When Could Checks Go Out?

Massachusetts Tax Refund: Who Is Eligible and When Could Checks Go Out?

Gov. Charlie Baker's plan to send $250 checks to middle-income residents fell apart last month, but Massachusetts taxpayers will still probably get a healthy tax rebate this year.

The $250 payout was making headway but a bill failed to pass before the July 31 deadline, in part because legislators suddenly remembered a 35-year-old voter referendum that could mean nearly $3 billion in surplus taxes will be returned to taxpayers this fall.

The 1986 statute --  which has only ever been triggered once, in 1987 -- mandates that, if the money collected in income tax reaches a predetermined dollar amount above and beyond the state budget, the excess must be returned to taxpayers.

Baker insisted there was enough in the coffers to support both his original $250 payout and any mandatory refunds.  

"The tax breaks that are currently pending before the legislature are eminently affordable," he told reporters, WBUR reported. "I mean, you're talking about a tax year, this past year, in which tax revenue went up by over 20 percent."

Legislators on Beacon Hill didn't necessarily agree.

"The fiscally responsible thing to do is to hit pause right now on all of this spending," Sen. Michael Rodrigues, chair of the Senate Ways and Means Committee, told reporters on Aug. 1, The Boston Globe reported.

"We want to make sure we get it right," Rodrigues added. "We are committed to getting some real, long-term permanent tax relief done."

Here's what Massachusetts residents need to know about the tax rebate, including who is eligible, how much it could be for and when it may go out.

For more on tax relief, find out which states are mailing out tax rebates, pausing their gas tax and instituting sales tax "holidays."

How much will the Massachusetts tax rebate be?

The original refund proposed in Baker's budget was for $250, intended for individual filers who earned between $38,000 and $100,000 last year and joint filers who made up to $150,000.

The exact dollar amount that could go out now is still to be determined: State Auditor Suzanne Bump has to calculate what, if any, tax surplus there is, using a formula based on annual wage and salary growth.

Baker's office has predicted taxpayers would get 7% of their 2021 income taxes returned, according to MassLive. For an individual earning $75,000, that would work out to about $250.

While the state auditor hasn't determined whether tax revenue has triggered a refund yet, Gov Baker predicts that thanks to a 1986 voter referendum, taxpayers will get 7% of their 2021 income taxes returned.

Photosomnia/Getty Images

Who qualifies for the Massachusetts tax rebate?

Theoretically, anyone who paid 2021 income tax in Massachusetts would be eligible to be paid back. Residents with outstanding state tax bills may not see a check, though.

When will the Massachusetts tax rebate be sent out?

Baker's original plan would have had $250 checks in the hands of eligible taxpayers by October. The tax cap won't be calculated by the state auditor until September, though the Department of Revenue could start issuing tax credits on Sept. 21, MassLive reported.

"We're looking at what's the quickest and most efficient way to get that money back to the taxpayers," Michael Heffernan, state secretary of administration and finance, told reporters Thursday, WBZ news radio reported.

Lawmakers don't want to rush any decisions and overextend the budget with multiple rounds of tax rebates.

Pausing the economic development and tax relief package forged the "wisest choice," House Speaker Ron Mariano said at a press conference, WGBH reported.  

"We wanted to make sure to be fiscally prudent that we know what we're getting into," Mariano added. "The economy is going through some strange things with a big inflation rate [and] oil and gas fluctuations that may lead to a recession."

What other tax breaks could Massachusetts residents receive?

Lawmakers want to increase the earned income tax credit from the 30% match of the federal credit to 40%, raise the child care credit from $180  per child to $310 and increase the rental deduction cap from $3,000 to $4,000. 

Certain seniors who own or rent their primary properties in Massachusetts get a "circuit breaker" tax credit, and Democrats want to bump the maximum from $1,170 to $2,340.

---

Source

Tags:

• Massachusetts Tax Refund Who Is Eligible And When Could Checks Go Out
• Massachusetts Tax Refund Who Is Eligible And When Could Checks Go Out
• Massachusetts Tax Refund Who Is Eligible And When Could Checks Go Out
• Massachusetts Tax Refund Who Is Eligible And When Could Checks Go Out
• Check Massachusetts Tax Refund Status
• Status Of Massachusetts Tax Refund
• When Can I Expect My Massachusetts Tax Refund
• Check On Massachusetts Tax Refund
• Department Of Revenue Massachusetts Tax Refund
• Where Is My Massachusetts Tax Refund
• Where To Mail Massachusetts Tax Return

Child tax credit 2022 how much money could you make on youtube child tax credit 2022 how much money could end homelessness child tax credit 2022 payments schedule advance child tax credit 2022 child tax credit 2022 changes child tax credit 2022 income limit child tax credit portal irs child tax credit child tax credit portal

Child Tax Credit 2022: How Much Money Could You Get From Your State?

Child Tax Credit 2022: How Much Money Could You Get From Your State?

Around 16 states are making plans to send families more relief between this year and 2023, since another child tax credit bill is unlikely to be passed into law by Congress. An attempt to include a child tax credit in the Inflation Reduction Act was quickly rejected with a vote of 97 to 1. Parents haven't received a monthly child tax credit payment since December, and their final check was disbursed with their tax returns this year.

While there's no plan to reinstate the child tax credit payments at a federal level, there is a Republican Senate proposal that would send up to $350 per child and includes a work requirement. For now, it's up to the states to decide if they'll provide money to families in need. Out of the 16 states planning to enact a state child tax credit or offer deductions for households with children, only Maryland is pending governor approval, with no action taken so far. 

Check below to see if your state is offering (or planning to offer) child tax credit relief, as well as eligibility requirements for your state. For more, see if your state is sending gas rebate checks or stimulus money in the form of inflation-relief checks or tax rebates.

These are the current states planning to send child tax credit checks to families. Note that not all are fully refundable, which means you may need an income to receive the full amount owed to you.

California: Families who earn less than $25,000 are eligible to receive $1,000, either as a reduced state tax bill or refund. Those earning between $25,000 and $30,000 would receive a reduced credit. The credit is only available for children under age 6 and the family must qualify for the California Earned Income Tax Credit.

Colorado: Starting in January 2023, families with incomes of $75,000 or less ($85,000 for married taxpayers filing jointly) could get 5% to 30% of the federal credit for each qualifying child. This credit is only available for children under age 6.

Connecticut: Eligible families can now apply for a one-time tax rebate to receive $250 for each child under age 18. The rebate caps at $750 for three kids. Here's who qualifies (PDF): couples filing jointly who made $200,000 or less in 2021, single filers who earned $100,000 or less and heads of households who earned $160,000 or less.

Florida: Nearly 59,000 families in Florida will receive $450 per child, but it's unclear at this time who is eligible. Foster families can also receive this relief money. 

Georgia: In response to its decision to ban abortion access in the state, Georgia will now let taxpayers claim their unborn fetuses as dependents on their tax returns. Taxpayers can get up to $3,000 for the 2022 tax year if they've got an unborn child with a detectable heartbeat between July 20 and Dec. 31.

Idaho: Families could be eligible to get $205 for each qualifying child with Idaho's nonrefundable child tax credit.

Maine: Resident taxpayers are eligible to claim $300 for each qualifying child and dependent under the dependent exemption tax credit. Qualifying children and dependents are the same as those who were claimed under the federal child tax credit.

Maryland: Those who make $6,000 or less could get a $500 refundable tax credit for each qualifying child, under a bill pending approval by Gov. Larry Hogan. 

Massachusetts: Families are eligible to receive $180 for one dependent or $360 for multiple dependents. To qualify, dependents must be under 12 years old.

New Jersey: The newly passed New Jersey Child Tax Credit Program gives families with an income of $30,000 or less a refundable $500 tax credit for each child under 6 years old. Households earning up to $80,000 could qualify for $300. 

New Mexico: Families could be eligible for $25 to $175 per qualifying child (PDF), depending on income, beginning in the 2023 tax year and continuing through the 2031 tax year.

New York: Eligible families can either claim 33% of the federal child tax credit and federal additional child tax credit for qualifying children or $100 for each qualifying child.

North Carolina: Taxpayers can receive a deduction of up to $2,500 for each qualifying child, depending on income and filing status.

Oklahoma: Households with an income less than $100,000 are eligible to get 5% of the federal child tax credit (PDF).

Rhode Island: Families could receive child tax credit rebates for up to $250 per child under age 18, maxing out at three kids. Eligibility caps at $100,000 income for a single filer household, or $200,000 for joint filers. These checks will be automatically issued to those who are eligible beginning in October.

Vermont: Households with an income less than $125,000 are eligible for $1,000 per child age 5 and younger.

For more, here's how to save money on gas and what to do if you lose your job.

---

Source

Child tax credit 2022 how much money could end homelessness child tax credit 2022 how much money could the government irs child tax credit 2022 child tax credit payments irs child tax credit child tax credit stimulus package child tax credit payments child tax credit qualifications advance child tax credit 2021 child tax credit calculator

Child Tax Credit 2022: How Much Money Could You Get From Your State?

Child Tax Credit 2022: How Much Money Could You Get From Your State?

Around 16 states are making plans to send families more relief between this year and 2023, since another child tax credit bill is unlikely to be passed into law by Congress. An attempt to include a child tax credit in the Inflation Reduction Act was quickly rejected with a vote of 97 to 1. Parents haven't received a monthly child tax credit payment since December, and their final check was disbursed with their tax returns this year.

While there's no plan to reinstate the child tax credit payments at a federal level, there is a Republican Senate proposal that would send up to $350 per child and includes a work requirement. For now, it's up to the states to decide if they'll provide money to families in need. Out of the 16 states planning to enact a state child tax credit or offer deductions for households with children, only Maryland is pending governor approval, with no action taken so far. 

Check below to see if your state is offering (or planning to offer) child tax credit relief, as well as eligibility requirements for your state. For more, see if your state is sending gas rebate checks or stimulus money in the form of inflation-relief checks or tax rebates.

These are the current states planning to send child tax credit checks to families. Note that not all are fully refundable, which means you may need an income to receive the full amount owed to you.

California: Families who earn less than $25,000 are eligible to receive $1,000, either as a reduced state tax bill or refund. Those earning between $25,000 and $30,000 would receive a reduced credit. The credit is only available for children under age 6 and the family must qualify for the California Earned Income Tax Credit.

Colorado: Starting in January 2023, families with incomes of $75,000 or less ($85,000 for married taxpayers filing jointly) could get 5% to 30% of the federal credit for each qualifying child. This credit is only available for children under age 6.

Connecticut: Eligible families can now apply for a one-time tax rebate to receive $250 for each child under age 18. The rebate caps at $750 for three kids. Here's who qualifies (PDF): couples filing jointly who made $200,000 or less in 2021, single filers who earned $100,000 or less and heads of households who earned $160,000 or less.

Florida: Nearly 59,000 families in Florida will receive $450 per child, but it's unclear at this time who is eligible. Foster families can also receive this relief money. 

Georgia: In response to its decision to ban abortion access in the state, Georgia will now let taxpayers claim their unborn fetuses as dependents on their tax returns. Taxpayers can get up to $3,000 for the 2022 tax year if they've got an unborn child with a detectable heartbeat between July 20 and Dec. 31.

Idaho: Families could be eligible to get $205 for each qualifying child with Idaho's nonrefundable child tax credit.

Maine: Resident taxpayers are eligible to claim $300 for each qualifying child and dependent under the dependent exemption tax credit. Qualifying children and dependents are the same as those who were claimed under the federal child tax credit.

Maryland: Those who make $6,000 or less could get a $500 refundable tax credit for each qualifying child, under a bill pending approval by Gov. Larry Hogan. 

Massachusetts: Families are eligible to receive $180 for one dependent or $360 for multiple dependents. To qualify, dependents must be under 12 years old.

New Jersey: The newly passed New Jersey Child Tax Credit Program gives families with an income of $30,000 or less a refundable $500 tax credit for each child under 6 years old. Households earning up to $80,000 could qualify for $300. 

New Mexico: Families could be eligible for $25 to $175 per qualifying child (PDF), depending on income, beginning in the 2023 tax year and continuing through the 2031 tax year.

New York: Eligible families can either claim 33% of the federal child tax credit and federal additional child tax credit for qualifying children or $100 for each qualifying child.

North Carolina: Taxpayers can receive a deduction of up to $2,500 for each qualifying child, depending on income and filing status.

Oklahoma: Households with an income less than $100,000 are eligible to get 5% of the federal child tax credit (PDF).

Rhode Island: Families could receive child tax credit rebates for up to $250 per child under age 18, maxing out at three kids. Eligibility caps at $100,000 income for a single filer household, or $200,000 for joint filers. These checks will be automatically issued to those who are eligible beginning in October.

Vermont: Households with an income less than $125,000 are eligible for $1,000 per child age 5 and younger.

For more, here's how to save money on gas and what to do if you lose your job.

---

Source