Eligible residents have until Dec. 31 to file their 2020 and 2021 individual income tax in order to claim the rebate. To qualify, people must have also been full-year residents in 2020 and 2021. Exact payments will vary based on one’s financial circumstances.
An estimated 800,000 rebates worth $500 million are expected to be rolled out by the end of March 2023, per the Idaho State Tax Commission.
Idaho’s state government greenlit the measure back in September during a special session at the state legislature.
Gov. Brad Little’s office noted that rebates could provide some relief to Idahoans facing roaring inflationary pressures that have gripped the country. The measure came as part of a $1 billion package that included tax cuts, education spending, and other initiatives.
Tax officials began doling out payments starting in late September and will continue doing so as more residents qualify, according to the Idaho State Tax Commission.
Payments will come in the form of checks in the mail or direct deposits, depending on one’s preference. Additionally, tax officials will deduct any outstanding tax payments owed to the state from the final rebate.