UPDATE: Massachusetts Taxpayers To Get Back Almost $3 Billion Dollars
UPDATE:
We now have details on the money Massachusetts taxpayers will get back from the close to $3 billion dollars in excess tax revenue. In order to qualify for a credit, you have to have filed a 2021 state tax return on, or before, October 17, 2022. Your refund will be about 13% of the money you paid to the state. If you’re eligible, you’ll automatically be mailed a check or the money will be deposited into your account. Your money can be reduced if you have unpaid taxes, unpaid child support, and certain other debt. If you want to figure out how much you may get, you can check out a refund estimator HERE.
Could you use some extra money? Of course you can. Well, good news for Massachusetts taxpayers thanks to some obscure law from 1986. The law limits how much money can be held in the state’s treasury, the money will be back in the hands of taxpayers. It’s not chump change either. According to State Auditor Suzanne Bump, the Department of Revenue has to return $2.94 billion dollars. That’s BILLION with a B. The way this works is that you take the net state tax revenues in 2021 and subtract the allowable state tax revenue.
I’m a Massachusetts taxpayer. Where’s my money?
Sorry to bust your bubble, but it’s going to take a minute. At this point, details are very unclear. We don’t know how and when people will get their money back. Well that sucks! We want our money now right?
How much am I getting?
We also don’t know how much people are going to get back. The only thing that’s been said about that came from Administration and Finance Secretary Michael Heffernan who said that taxpayer should expect to get back money “in the proportion that they paid in.” Basically, the amount will be based on the immediate preceding tax year, and that people who had a higher income tax liability will receive a higher credit.
Governor Baker’s details for Massachusetts taxpayers
The governor’s office says that the money will be determined by the Department of Revenue, and that it “will share more details soon.” Baker’s office did predict that Massachusetts taxpayers will see about 7% of their 2021 income taxes being returned. Also, it’s still unclear whether or not this money will be sent out in addition to the $250 rebate checks that were proposed as part of the Economic Development Act.
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If you want to start thinking about what to spend your money on, here’s some cute stuff for a Netflix & Chill night in.
18 Items You Need For The Perfect Netflix And Chill Night In
Netflix and Chill Soy Candle
The perfect mood setter, this soy candle is scented with notes of coconut, lavender, & vanilla fragrance.
Urban Accents - Popcorn Kernels and Seasoning Variety Pack
A popcorn set that will last many a Netflix and chill night and many flavor options for the perfect spread for everyone.
Netflix & Chilll'd - Ben & Jerry's Ice Cream
Ice cream and a movie is my kind of night. This Netflix and chill ice cream is peanut butter ice cream with sweet and salty pretzels swirls and fudge brownies for the best of both worlds.
'Stranger Things' Plush Throw Blanket
This blanket is ‘Stranger Things’ themed with a throwback to season one with Joyce and the Christmas lights and made from a soft plush material to cuddle in for your Netflix and chill sesh.
Lumens Mini Portable Projector
Make your streaming nights that much better with this projector that connects your streaming services with HDMI, USB or tv stick devices and avoid having to mount any TVs or unsightly cords with this setup.
Netflix and Chill Funny Onesie
This onesie is a hilarious mention to one of that slang meaning behind “Netflix and Chill”. Take your pick in black white or pink or gift to a new parent who loves their Netflix shows.
"Just One More Episode" Throw Pillow Cover
We all know that moment when the show is so good that you want to stay up and finish one more episode to find out what happens next. This pillow is the best addition to your couch to cuddle with while you click ‘next episode” (maybe for the second or third time).
'Stanger Things' T-Shirt
Throwing it back to season one, this t-shirt is the perfect choice for anyone who wants to start the series with references to Will’s fav song and El’s fav snack.
Junk Food Socks - 8 Pack
Junk-foodies and sock addicts unite for this 8 pack of junk food themed socks.
Please note that items are in stock and prices are accurate at the time we published this list. Have an idea for a fun theme for a gift idea list you’d like us to create? Drop us a line at [email protected].
