Millions of Americans To Get Tax Rebate of up to $500
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources.
Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content.
Taxpayers in Georgia could be getting up to $500 in the near future as tax rebates are sent out.
Why It Matters
In April, Governor Brian Kemp signed House Bill 112 into law, approving a $1 billion special state income tax refund.
It marks the third time in recent years that Georgia has issued a special tax refund, with previous rebates distributed in 2022 and 2023.
What To Know
The one-time rebate will be distributed to eligible taxpayers after their 2024 state returns have been processed, provided they meet certain criteria.
To qualify, taxpayers must have filed their 2023 and 2024 individual income tax returns, contributed to the state tax system, and have no outstanding debts with the Georgia Department of Revenue.
Taxpayers in Georgia could be getting up to $500 in the near future as tax rebates are sent out.
Taxpayers in Georgia could be getting up to $500 in the near future as tax rebates are sent out.
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The refund amount for individual filers will be based on their 2023 tax liability and is capped at:
$250 for single filers or those married filing separately
$375 for heads of household
$500 for couples filing jointly
If you're not sure if you are eligible for a refund, you can check via the Surplus Tax Refund Eligibility Tool, available through the Georgia Tax Center, by inputting your tax year, Social Security number or tax identification number and federal adjusted gross income.
If you paid state taxes or received your refund via direct deposit, the rebate will be deposited into your bank account. If you filed by mail, you'll receive a paper check.
Under Georgia law, the rebate is not considered taxable income. However, the amount could be reduced or withheld to cover any outstanding debts that may be owed to the state.
Similar tax rebates are issued in other states. Checks of up to $400 will be paid to eligible taxpayers in New York after Governor Kathy Hochul confirmed plans for inflation refund checks.
What People Are Saying
Georgia Governor Brian Kemp, in a statement: "Because we've managed our state's resources wisely, we're again able to return money to hardworking Georgians who know how best to use it. Along with our acceleration of the largest income tax rate cut in state history, this latest refund is just one more way we're working to support the people of our state, their families, and their businesses, because that's not the government's money, it's theirs!"
Georgia State Revenue Commissioner Frank O'Connell: "Our department is ready to get this third round of refunds out the door efficiently and securely. We appreciate the continued partnership with the governor and the General Assembly in making this happen."
What Happens Next
In addition to HB112, the General Assembly passed HB111, reducing the Peach State's income tax rate from 5.39 percent to 5.19 percent.
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