MILLIONS of Americans are eligible for up to $500 worth of tax refunds but must apply before the summer deadline.
Many state governments have tried to provide additional support to residents since the COVID-19 pandemic.
And the Virginia General Assembly approved a tax reduction for eligible residents.
Virginia residents who filed their taxes before July 1, 2022 will likely receive their tax refunds in September or October of this year.
A resident’s tax liability, which is the amount of tax owed less any credit during the year, determines whether they receive the one-off payment.
Individual taxpayers in the state can receive up to $250 worth of payment, WJLA reports.
Meanwhile, couples who filed their taxes together can receive a payment worth up to $500.
Residents who believe they qualify for the tax refund must submit their taxes by Nov. 1, according to the Virginia Department of Taxation.
The tax refund is likely to be sent via check or direct deposit, depending on how an individual received their tax refund.
Residents should also ensure that their information, such as their mailing address, name, or social security number, is up to date with the state tax authority.
Anyone who needs to update their information has until August 15, reports WJLA.
The rebate will be funded from a $1.2 billion federal budget surplus.
Virginia has joined a number of other states in issuing tax refund checks this year as lawmakers work to cope with skyrocketing prices and rising costs of living.
Some states are sending residents money in the form of tax breaks — Colorado plans to do so by the fall.
Under the revised tax refund program, individuals will receive $750 and joint claimants will receive $1,500.
While Gov. Jared Polis has asked residents to apply by June 30, they can still receive payment if they apply by the Oct. 17 extended application deadline.
Eligible Chicago residents can apply for transit and fuel card money each month — but the next deadline is almost here, too.
To apply, you must be a Chicago resident, be at least 18 years old, and have a current and valid city sticker with the correct shipping information for your vehicle.
https://www.the-sun.com/money/5688487/americans-direct-payments-summer-claim-deadline/ Millions of Americans will receive direct payments of between $250 and $500 after the summer – how to make claims before the deadline