Please do not leave this page until complete. This can take a few moments.
The first checks and direct deposits from a nearly $3 billion pot of excess tax revenue will head back to taxpayers starting on Tuesday when the calendar flips to November, the Baker administration announced Friday.
A spokesperson for the Executive Office of Administration and Finance said money will head out the door under the voter-approved tax cap law known as Chapter 62F, which taxpayers triggered for the first time since 1987 by delivering massive amounts of taxes.
About 3 million taxpayers will receive a refund in the form of a mailed check or a direct deposit worth about 14 percent of what they owed in state personal income tax in 2021, the spokesperson said. The administration plans to distribute the refunds on a rolling basis through Dec. 15. The administration had previously estimated refunds of about 13 percent of income tax liabilities.
Taxpayers who owed state personal income tax last year and already filed their 2021 return are eligible and do not need to take any additional steps to receive their refunds.
The administration published a frequently asked questions page online with a calculator that taxpayers can use to estimate their forthcoming refunds.
The Baker administration previously said taxpayers needed to file a 2021 tax return by Oct. 17, 2022 to be eligible for a 62F refund, but a spokesperson said Friday the administration pushed that deadline until Sept. 15, 2023 -- which is the latest date possible to file a 2021 tax return when accounting for extensions -- to accommodate taxpayers who might not have been aware of the original deadline.
Stay connected! Every business day, WBJ Daily Report will be delivered to your inbox by noon. It provides a daily update of the area’s most important business news.
Sign upWorcester Business Journal provides the top coverage of news, trends, data, politics and personalities of the Central Mass business community. Get the news and information you need from the award-winning writers at WBJ. Don’t miss out - subscribe today.
SubscribeWorcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
See Digital EditionStay connected! Every business day, WBJ Daily Report will be delivered to your inbox by noon. It provides a daily update of the area’s most important business news.
Worcester Business Journal provides the top coverage of news, trends, data, politics and personalities of the Central Mass business community. Get the news and information you need from the award-winning writers at WBJ. Don’t miss out - subscribe today.
Worcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
This website uses cookies to ensure you get the best experience on our website. Our privacy policy
To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy
0 Comments