On the first day of the 2023 Legislative Session, Olivia Senator Andrew Lang took the oath of office for a second term.
Tax rebates, or “Walz Checks,” may be a topic that lawmakers discuss this year given that the state will have a budget surplus of around $18 Billion. Lang previously criticized rebate checks, referring to them as political gimmicks, and would rather to see the state lower taxes. He claims that refund payments will likely not be issued this year if the legislature approves them. He added that it would be probably issued next year.
Based on the article published by Willmar Radio on January 04, 2023, the American Rescue Plan Act, which enabled the third and final payment in the spring of 2021, prevented the government from writing any stimulus checks in 2022. Due to the fact that these checks were issued in 2021, they had an impact on tax refunds that were issued earlier that year and were reflected in early 2022 tax returns.
Consumers may not even have a sizable tax refund to look toward in 2023 due to the biggest inflation in a generation, the potential for a recession, and other factors. Accountants advise paying even more care to your return to make sure you receive the most tax refund according to an article posted by Washington Examiner on January 05, 2023.