Stimulus update: Massive tax rebate checks worth 14% to arrive within next two days
Asher Notheis
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In just a couple of days, around three million Massachusetts residents are set to receive tax rebates worth 14% of what they paid in state income taxes.
A majority of taxpayers have already received their funds in November, according to WBUR, though some people are still waiting for their rebate. The state revenue service said that those eligible that have not yet received their rebate should receive it by Thursday, according to GBH News.
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The total amount people receive from these rebates will be a set fraction of one’s paid income tax, meaning higher earners will receive much more than lower earners. For example, a person who makes $35,000 would receive $200, while someone who makes $1 million would receive $7,000, WBUR noted as examples.
The rebates will be sent directly to taxpayers’ bank accounts via direct deposit or a check in the mail for those who don’t have it set up. Those eligible will receive roughly 14% back of what they paid in state income taxes.
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Massachusetts residents have until Sept. 15 of next year to file a 2021 tax return to get this rebate.