The Minnesota Department of Revenue has announced the reissuance of tax rebate checks worth up to $1,300 to eligible residents in the state. These checks, initially distributed last year, were left uncashed and expired.
Approximately 128,000 one-time rebate checks are slated to be mailed out by mid-March to qualifying residents. Last year, over 2.1 million residents received these rebates via direct deposit or paper check, with varying amounts based on tax status.
For joint tax filers with a gross income of up to $150,000, a $520 rebate is provided, while individual filers earning up to $75,000 will receive $260. Moreover, an additional $260 per dependent, up to three dependents, is added to the base amount. This means that eligible families with five members can receive a total rebate of $1,300 for their 2021 taxes.
It’s important to note that while these payments are not taxable for state income, they are subject to federal taxation. This aspect has been a source of contention, with Governor Tim Walz expressing frustration at the federal tax treatment of these rebates.
Residents who believe they are eligible for the rebate but have not received it by May 1 are advised to contact the state for assistance, according to the Minnesota Department of Revenue.
For further details on how to handle the rebate on federal tax returns, individuals are directed to visit the state’s website. The reissuance of these rebates aims to ensure that eligible residents receive the financial support owed to them for the 2021 tax year.