Up To $1,000 Direct Payment From Income Tax Rebates Will Be Available In Weeks – Are You Eligible?

In New Mexico, eligible residents can obtain between $500 to $1,000 direct payment from income tax rebates on June 16.

Up To $1,000 Direct Payment From Income Tax Rebates Will Be Available In Weeks – Are You Eligible? (PHOTO: The US SUN)

Up To $1,000 Direct Payment Available In June

The state legislature just recently approved the $673 million income tax rebates and signed them into law. Those who file solo for the income tax rebates will receive $500 while married couples who file jointly will receive $1,000.

While taxpayers opting for direct payment will start getting electronic payments on June 16, those obtaining paper checks may receive them a bit later in the month.

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Here’s How To Be Eligible For The Direct Payment

To be eligible for this program, the rebate limited eligibility to solo filers who are earning less than $75,000 and joint filers earning less than $150,000.  Moreover, The US Sun reported that the payment was smaller as well, with solo filers receiving $250 and filers who file jointly will have $500.

To obtain the new payment, residents should have already filed their 2021 income tax returns. However, those who are late filing still have plenty of time to receive their payment.

They have until May 31, 2024, to process their application for their 2021 taxes and claim the rebate.

Other Payments

Another state who will have a payment that will be sending out significant rebates is the state of Minnesota. The Minnesota legislature recently passed a bill authorizing rebates between $260 and $1300.

Solo filers would qualify for $260 while families can have $260 for up to 3 dependents.

But this direct payment has also an income requirement. Solo filers must earn smaller than $75,000 while joint filers and families must earn smaller than $150,000. Governor Tim Waltz must sign the rebates first before being sent out to all eligible filers.

Waltz has previously advocated for the rebates, so his approval is significant.

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