Starting July 3, Montana taxpayers who filed their 2021 tax returns receive direct payments of up to $2,500.00 USD.These payments correspond to the return of income taxes and the amounts will depend on the declarations of the taxpayers in 2021.
In addition, Montana residents who have filed their 2020 state tax return for part or all of the year will also be included.
In this sense, the number of beneficiaries is expected to rise to 530,000 people, while the reimbursement package scales to $480 million. All of this, thanks to Bill 192, which distributes the budget surplus and was recently passed in the Montana House of Representatives.
What should you know about these payments?
Direct payments begin on July 3 and end on December 31, 2023. In the meantime, the amount taxpayers receive will depend on marital status and the amount recorded on line 20 of Montana Form 2.
In this way, those who made their tax returns will initially receive direct payments. This is stated by the Montana Department of Revenue.
For example, those who filed their declaration at the beginning of 2022 will receive the refund once it is delivered to the first taxpayers.
Therefore, single taxpayers would be receiving about $1250.00 USD, as well as married people who filed their tax returns separately.
Similarly, this same amount will be obtained by taxpayers who are the head of the family and have complied with their tax responsibilities. However, married taxpayers who filed their joint return may receive up to $2,500.00 USD.
Now, to qualify for this direct payment, taxpayers had to file their 2020 and 2021 returns on time in Montana. They could also file later, but only if an extension was obtained.
Also, to receive the income tax refund payment, line 20 of Montana Form 2 must be greater than zero.
Therefore, taxpayers who have completed their taxes are eligible to receive the refund. This means that they do not need to claim it, since the state government will automatically send the money.
