Residents of South Carolina will be receiving up to $800 tax rebates by December 31. These rebates aim to help the residents survive the rising costs of living, says Schilke.
The residents of South Carolina will be receiving direct payments of up to $800 by the end of December this year. The state has decided to provide its residents with tax rebates to help survive the continuous rise in inflation. The state has started the distribution of the one-time direct payments last November. All payments are expected to be distributed by the end of December.
The amount of tax rebates the recipients may receive will depend on their 2021 tax liability. For residents whose tax liabilities are less than $800, the tax rebates to be received will be equal to that amount. If the tax liabilities exceed $800, the tax rebates to be received will be exactly $800. These tax rebates will be distributed either through direct deposit payments or paper checks. For direct deposits, the tax rebates will be received in the same bank account where the 2021 tax rebates were also received. If the resident has filed their 2021 tax forms on October 17, the tax rebates should be received before the end of the year.
According to Schilke, because of the new deadline, residents can still file until February 15, 2023 if tax returns have not been filed yet. Correspondingly, the tax rebates will be received by March of next year. According to Hartley Powell, director of South Carolina’s Department of Revenue, the state has already distributed over $1.39 million worth of tax rebates to date. However, the state’s officials announced that the distribution of the tax rebates may still experience possible delays. Some of the reasons may be because of the Department of Revenue’s slow processing system or issues with the residents’ filing of tax returns.