The first round of the $800 rebates has already been released, and residents will obtain the money either through direct deposit or as a check in the mail. Additional checks will be sent out during December.
Taxpayers who have not filed their 2021 returns can still receive the rebate if they do so by Feb. 15, but they will not receive the checks until March of next year.
The exact amount each taxpayer receives varies based on his or her 2021 tax liability, with a maximum of $800.
Tax liability is defined by the South Carolina Department of Revenue as “what’s left after subtracting your credits from the Individual Income Tax that you owe.”
To calculate a rebate total, residents should examine their SC1040 form. If there is no amount on line 10, they can add the totals of lines 21 and 22 and subtract that amount from line 15.
The remaining amount, up to $800, will be received.
Taxpayers with outstanding taxes owed will not receive the full rebate, with the outstanding amount being subtracted from the total.
Those affected by this will receive a Notice of Individual Income Tax Rebate Adjustment from the state Revenue Department.