Starting in May, the majority of Georgia taxpayers will receive income tax rebates. Georgia residents are set to receive refunds starting tomorrow, thanks to the recently enacted House Bill 162. This legislation facilitates the redistribution of the state’s substantial $6.6 billion surplus to taxpayers. Governor Brian Kemp signed HB 162 into law, enabling the state to issue its second significant income tax refund in consecutive years.
After signing the bill, Kemp stated, “Last year, we gave back over a billion dollars to our state’s taxpayers, and I’m proud that we’re doing it once more.”Georgia residents with income tax liabilities qualify for these refunds. Single filers will receive $250, heads of household will get $375, and couples can expect $500. However, the refund amount cannot exceed your prior income tax liability. Nonresidents residing in Georgia and those claimed as dependents are not eligible for the rebate.
Georgia residents with income tax liabilities
Based on the preferences indicated in their 2022 tax returns, residents will either receive a direct deposit or a check. Currently, there are no specific payment dates available, according to Austin Gibbons, the Director of External Affairs and Communications for the Georgia Department of Revenue, in a statement to The U.S. Sun.
Gibbons advised, “Please stay tuned to our website and social media.” He also mentioned that most recipients can expect a direct deposit.
Over 900,000 taxpayers are set to receive refunds of up to $1,000, with single filers receiving $500 and couples getting $1,000. In other news, low-income Supplemental Security Income (SSI) beneficiaries have just one day left before they obtain payments of up to $914. The next payment is scheduled for May 1st, right on time.
No payments were issued in April as recipients received their monthly checks on March 30th. If the first of the month falls on a weekend or holiday, payments are processed on the closest business day. As a result, recipients will receive two payments in June, September, and December, but will not obtain any payments in July or October.