Tax bill rebate checks expected to go out in early fall
The Minnesota Department of Revenue said 2021 tax returns will be used to determine eligibility for the payments.
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ST PAUL, Minn. — Included among the many bills passed by Minnesota lawmakers before the 2023 legislative session came to an end Monday night was a $3 billion tax bill.
Major elements of the package include a Social Security tax exemption for seniors who make up to $100,000 as a couple, or $78,000 as a single filer, a new child tax credit of up to $1,750 per child and an expansion of the K-12 Education Credit to $1,500 per child.
But what makes up nearly half of the massive bill is money for one-time rebate checks for both single and joint filers.
The Minnesota Department of Revenue said it will have more information about when and how Minnesotans will receive their money once the bill is officially signed by Governor Tim Walz, but a spokesperson for the agency said payments are expected to go out in the early fall.
Taxpayers won't have to apply for the payments, which amount to $260 for individuals making up to $75,000, and $520 for couples making up to $150,000. Taxpayers could receive an additional $260 check for up to three children.
The Dept. of Revenue said 2021 individual income taxes or property tax refunds will determine who is eligible to receive a payment, and they'll use that information to distribute payments.
This summer, eligible taxpayers will also have an opportunity to update their banking and address information if it has changed since they filed their 2021 return.
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Source: KARE11.com
