States Offering Tax Rebates and Relief Payments for 2024

States Offer Financial Relief Through Tax Rebates and Inflation Payments

Varied Relief Programs Across States

According to Kiplinger, several states have stepped in to provide financial relief to their residents through tax rebates and inflation relief payments filling the gap left by the federal government’s end of stimulus checks. The IRS recently clarified that most special state payments won’t be taxable on federal returns though there are exceptions. Minnesota’s “Walz” rebate checks and Arizona’s Families Tax Rebate for instance are considered taxable income by the IRS. Alabama offered one-time tax rebates in 2023 giving $300 to joint filers and $150 to single filers. However, those who didn’t file a 2021 Alabama tax return or were claimed as dependents didn’t qualify. Arizona‘s rebate targeted families with dependents providing $250 per child under 17 and $100 for those older. California‘s Middle-Class Tax Refund (MCTR) provided payments ranging from $200 to $1,050 with most distributed by mid-February last year. However, many recipients haven’t activated their MCTR debit cards.

Colorado‘s TABOR refunds based on surplus revenue issued payments up to $847 for single filers and $1,694 for joint filers with another round expected this fall. Georgia offered tax rebates up to $500 based on 2021 and 2022 returns but this program has concluded. Maine provided Winter Energy Relief Payments giving $450 per eligible resident with income limits applied. Massachusetts’ 62F refund program returned 14% of 2021 state income tax liability to taxpayers although this program has ended. Michigan expanded its working families tax credit sending checks averaging $550 per family to over 700,000 families since February 2024. Minnesota issued up to $1,300 in rebates to households with incomes below certain thresholds. However, about 150,000 checks went uncashed initially prompting the state to reissue expired payments.

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States Offering Tax Rebates and Relief Payments for 2024 (PHOTO: Financer.com)

Expanded Relief Programs in Multiple States

Additionally, Montana offered property and income tax refunds with the amount of the refunds based on pre-existing tax year requirements. A fiscal surplus allowed New Mexico to offer up to $1,000 in refunds with payouts based on 2021 tax returns. People with disabilities widows 50 years of age or older and seniors 65 and over can all benefit from Pennsylvania‘s Property Tax/Rent Rebate program. Depending on resident status and income rebates may total $1,000. Using tax returns from 2021 as the basis for qualifying South Carolina offered tax refunds of up to $800. With the program now closed Virginia offered up to $400 for joint filers and $200 for single filers from its 2023 surplus.

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