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Millions to receive up to $700 in direct payments from a $1 billion pot by the end of the year

MILLIONS of South Carolina taxpayers are reportedly lined up to claim up to $700 in refunds by the end of the year.

The payments, which could total nearly $1 billion, were approved by lawmakers in June.

Millions of South Carolina taxpayers could get rebates by the end of the year

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Millions of South Carolina taxpayers could get rebates by the end of the yearPhoto credit: Getty

Officials estimate around 1.5 million people could receive rebates.

South Carolina residents must file their 2021 state income tax returns by October 17 if they wish to be eligible for the cash.

The rebates are due to be issued by December 31, but it’s not yet known how much taxpayers will get.

The amount will be determined after the October deadline, the state reported.

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Rebates are given based on an applicant’s tax liability up to $700.

Tax liabilities refer to the total amount Americans owe to federal, state, and local governments.

More than a million taxpayers had no liabilities in the 2019 tax year.

Ashley Thomas, a spokeswoman for the state Treasury Department, said: “It’s a dynamic number; it’s not a simple $50 rebate.

“The rebate amount and cap per rebate will be determined based on the declarations submitted.

“Not only the number of statements filed, but also the amount owed.”

It is believed that eight out of ten taxpayers get rebates credited to their bank accounts.

Meanwhile, Indiana taxpayers will get $200 worth of new payments next week.

Official estimates are that around 50,000 checks are printed and a total of 1.7 million payments are sent every day.

HELPING HAND

The rebate is worth $200, but some taxpayers may get $325 if they didn’t receive the $125 payment that was sent out earlier this year.

While married couples filing joint tax returns could rake in $650.

Residents who were not eligible for the first payment may receive the $200 payment if the Social Security benefits they received were not claimed by another dependent.

And to get the check, they need to file a 2022 tax return.

The state will also send out paper checks, but taxpayers have been warned of potential shortages.

The bill aims to provide inflation relief to Indiana taxpayers, who have been hit hard by rising prices.

Thousands of Hawaii residents are set to receive a one-time tax refund this month.

Those earning less than $100,000 per year get a $300 rebate.

If your income is above this threshold but below $200,000, you will receive $100.

The relief means a family of four could rake in $1,200.

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And Rhode Island Gov. Daniel McKee said families could get a child tax credit worth up to $750.

Almost 115,000 families in the state are expected to benefit.

https://www.the-sun.com/money/5976480/millions-taxpayers-south-carolina-direct-payments/ Millions to receive up to $700 in direct payments from a $1 billion pot by the end of the year

CELINE CASTRONUOVO

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