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The severe impact of inflation on the wallets of the American population has prompted nearly half of the state governments to implement tax refund policies and tax credits to make the end of the year a little less complicated, based on the fact that their spending is higher than they are. grow during the holiday season.
At least 20 states have earmarked funds for the population as part of budget surpluses that come mostly from funds the federal government has given to mitigate the effects of COVID-19.
While in some institutions the benefit has already been granted, in others it is considered to do so no later than the first days of the next year, since by the last month the increase in prices compared to the previous year was already 7.7%. % and 0.4%. until September.
For this reason, it is extremely important for people to be aware of benefits that have not yet reached support in their states.
The state government approved an aid budget of up to $1,050 for married couples with at least one dependent.
Although some checks have been sent since October 2023, they will be delivered to those who have not yet received them.
In addition, single taxpayers earning less than $75,000 a year would qualify to receive $350, plus another $350 if they have dependents.
For couples filing jointly who make less than $150,000 per year, they will receive up to $700, plus $350 for any dependents.
Those who filed their tax returns by the end of June 2021 received a $750 check in September this year. However, those who have completed the process before the October 17 deadline will get the refund next January.
Residents with children had the opportunity to apply for a “Child Tax Refund” in the amount of $250 for each child. This benefit could be extended to three children, which meant up to $750 for some taxpayers who had already distributed.
Earlier this year, the state government set aside a one-time payment of $300 for taxpayers.
Checks of up to $450 per child were sent to low-income families.
Taxpayers who have filed their 2020 and 2021 tax returns will be eligible for refunds.
In this sense, a $250 benefit would be given to single residents, $375 to the head of household and $500 to married couples.
Residents earning less than $100,000 were awarded $300 in 2021 and those earning more than $100,000 received a one-time payment of $100.
$75, or 12% of their 2020 state income tax liability, was provided to each taxpayer and dependent.
People who made less than $200,000 in 2021 would get a $50 tax refund. Meanwhile, couples earning less than $400,000 jointly in 2021 will receive a lump sum payment of $100.
Residents were given an initial payment of $125 dollars and subsequent payments of $200 dollars.
Taxpayers filing 2021 state tax returns were given a one-time payment of $850 and those representing them as a couple, the amount was $1,700.
All residents who pay 2021 Massachusetts personal income tax and file their 2021 tax return by October 15, 2023, will receive a refund of the incentive tax.
A payment of $750 was approved for frontline workers helping to fight COVID-19 but whose annual income is less than $175,000 a year.
A tax refund of up to $1,500 is available to those who owned or rented a primary residence in the state as of October 1, 2019. However, a renter may also be eligible for benefits of up to $450.
The period for requesting benefits closes on December 30.
Taxpayers making less than $75,000 a year were exempted between $250 and $500.
During June, homeowners received an average of $1,050 in property tax refunds. However, taxpayers also received a minimum of $100 towards the child credit.
Provided a “one-time assistance payment” of $400 per household.
Individuals with disabilities, elderly landlords and renters will be reimbursed up to a maximum of $650. To apply, you must visit the myPath website where information about the program appears.
Couples with a gross income of $200,000 or less and who have children will receive $250 per child, up to a maximum of $750.
Some taxpayers will qualify for a one-time payment of up to $800, awarded next year.
Taxpayers who filed their returns before July 1 received a refund of $500.
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