Tax rebates may help households ex that perience financial difficulty due to the ongoing increase in energy costs and inflation, which affects practically all daily expenses, Americans continue to struggle to have enough money to last them through the whole month.
A tax rebate of up to $500 is now available to millions of households, but the deadline to apply is tomorrow, October 31.
Who's Eligible For $500 Tax Rebate?
Virginia citizens who file their tax return by November 1, 2022 and have tax liability from 2021 are eligible for a reimbursement of up to $500 against their payments. This incentive, which offers $250 to single filers and $500 to joint filers, is open to more than 3 million taxpayers, as per Marca.
According to reports, those who submitted their tax return before July 1 have started receiving payments into their bank accounts as of October 17 and ought to get them by November 1. Everyone is welcome to visit the Virginia Tax Office's step-by-step guide on their website by clicking here.
On September 19, the Virginia rebates website started operations. The tax rebate should arrive by the end of October for eligible residents who submitted their 2021 taxes by September 5. According to the state, 3.2 million Virginians qualify for the tax rebates.
If Virginians meet the requirements and submit their 2021 taxes by November 1, tax rebates will be issued to qualified taxpayers by direct deposit or paper check, according to Washington Examiner.
A tax liability is defined by the state's tax agency as the total amount of taxes due less any tax credits or deductions. In a news release in September, Gov. Glenn Youngkin (R-VA) praised the tax rebates for returning money to taxpayers. Virginia officials have made it clear that any taxpayers who owe money to local or state governments would first have their debts paid before receiving any ax rebate money.
Who's Eligible For $1,000 Tax Rebate?
Meanwhile, other eligible families may soon receive a tax rebate worth up to $1,000. This is due to the state's Circuit Breaker Program, commonly known as the Property Tax Reduction Program, which granted $1.2 million to the city of Boise, Idaho.
For Idahoans who desire to get this tax refund, the Idaho State Tax Commission has specific eligibility conditions. The individual must reside in Idaho, have a property worth less than $800,000, and have a combined income of no more than $32,230 after deducting medical costs.
Per Marca, citizens over the age of 65, former prisoners of war or hostages, residents who are blind or crippled, widows, widowers, and children without fathers or whose mothers are younger than 18 are eligible for this program.
Additionally, persons enrolled in the public employee retirement system or with a disability recognized by the Social Security Administration are eligible.
Now, the city of Boise will also launch its own tax rebate program. Those who qualify may start submitting their applications as early as this coming December, and the application deadline is May 2023. Around 1,200 Boise households are anticipated to be qualified for the $1,000 tax rebate on their property tax payment.
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