Since last fall, the Tax Commission has started giving eligible citizens of Idaho tax rebates. Automatic payments of $300 for single recipients and $600 for couples make up these rebates. Moreover, they may be valued at up to 10% of 2020 income taxes, whichever is higher.
By the end of March, the agency has distributed around 800,000 payments totaling up to $500 million. It has already distributed roughly 75,000 payments every week.
CHICAGO – NOVEMBER 1: Current federal tax forms are distributed at the offices of the Internal Revenue Service November 1, 2005 in Chicago, Illinois. A presidential panel today recommended a complete overhaul of virtually every tax law for individuals and businesses. (Photo Illustration by Scott Olson/Getty Images)
The deadline for filing tax returns was December 31, 2022, and applicants must have lived in Idaho for the whole calendar years of 2020, and 2021 to get the payments.
This includes individuals who submitted Form 24 to request the return for the food credit, which is worth $100 to most state taxpayers.
Marca said several eligible taxpayers already received their Idaho tax rebate last Friday. The Tax Commission has made online facilities available for taxpayers to monitor their payments.
Idaho Tax Rebate: Tax Commission Distributes Up To $600 Refunds Last End-March
The payments are necessary because Idaho is anticipated to have a $1.54 billion budget surplus after the 2023 fiscal year, The US Sun said. According to the Commission, the refunds are monthly payouts of $300 for single people and $600 for married couples.
They may also be worth up to 10% of your 2020 income taxes, whichever is higher. As mentioned, the deadline for the payments was last Friday, March 31.
The commission anticipated sending over 800,000 payments totaling up to $500 million. It translates to almost 75,000 payments each week.
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How to Track Your Rebates
The Where’s My Refund service helps you to keep track of the progress of your Idaho tax rebates.
You will need one of the following to view your refund status:
- Individual Taxpayer Identification Number or Social Security Number.
- Your Idaho ID number, Idaho driver’s license number, or Idaho tax return from the year 2021.
If you missed the Idaho Tax rebate, The Sun has shared a report to see whether you are one of the millions eligible for direct payments worth up to $3,600.
READ ALSO: $2,000 Property Tax Rebates In Montana: See Who Is Eligible?
