$260 Stimulus Checks in Sight for March 2024 – Who Qualifies?

Minnesota’s March 2024 Replacement Rebate Checks for Eligible Residents

According to MatricBseb, in an effort to reach thousands of eligible residents who either never received or cashed their initial rebate checks, the Minnesota Department of Revenue is set to send replacement $260 stimulus checks in March 2024. The state’s tax department aims to distribute these payments to citizens who fulfilled the income requirements by the middle of the month. The previous rounds of checks, issued by Submittable Holdings, Inc., based in Missoula, Montana, have been exhausted.

The new rebate checks cater to individuals whose adjusted gross income does not exceed $75,000, while married couples with income under $15,000 are entitled to a $520 payment. Furthermore, families comprising up to three dependents can receive an additional rebate check, valued at up to $1,300. This substantial tax package, worth over $1 billion in rebates, was approved by the Legislature in 2023, with nearly two million residents receiving the first payments in August and September.

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$260 Stimulus Checks in Sight for March 2024 – Who Qualifies?(PHOTO: getty image)

State Rebate Taxes Exempt, But Reporting Required on Federal Returns

Residents who believe they should have received a rebate but have not can contact the Minnesota Department of Revenue at 651-556-3000. The Internal Revenue Service has declared that while state taxes do not apply to the rebate, it must be reported on federal tax returns. Form 1099-MISC was provided to all recipients of rebates for use on individual federal income tax returns filed in 2023.

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