Eligible residents in Massachusetts will receive a one-time tax refund set at 14% of their state personal income tax liability by the middle of December.
The one-time tax refund is possible thanks to the $2.94 billion in excess of the Massachusetts state cap on revenue amassed, with the exact amount a resident will receive varying based on tax status.
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To be eligible for the one-time refund, residents must have filed their 2021 tax return, and they should receive their payment by the middle of December.
Those who have not filed their 2021 taxes have until Sept. 15, 2023, and should receive their payments a few weeks after filing.
Payments have already been delivered to hundreds of thousands of residents, according to CBS Boston.
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The state’s Chapter 62F cap on revenue triggered the tax refund, with a law that has only been triggered one other time since 1986.
To figure out the amount of a payment, eligible residents can check the state’s website.
