Stimulus update: One-time tax rebates worth 14% to arrive in one day
Asher Notheis
Video Embed
Roughly 3 million Massachusetts residents are set to receive tax rebates worth 14% of what they paid in state income taxes on Thursday.
Some taxpayers are still waiting to receive their tax rebate even though a majority already received theirs in November, according to WBUR. However, those who are still waiting will not have to wait much longer, as the state revenue service said those eligible who have not yet received their rebate should receive it by Thursday, according to GBH News.
MASSACHUSETTS LIBRARY TO PUT UP CHRISTMAS TREE AFTER BACKLASH OVER ITS ABSENCE
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.
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. If a person makes $35,000 annually, they will receive $200 from this rebate, while someone who makes $1 million would receive $7,000 from the rebate, WBUR noted as examples.
CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER
There is still plenty of time to file a 2021 tax return to get this rebate, as taxpayers have until Sept. 15 of next year.