$500 checks are up for millions of eligible citizens in Georgia, which is good news. Governor Brian Kemp signed House Bill 112, which allows for a one-time tax rebate distribution, this time amounting to $1 billion. This is the third year that Georgia has issued these special tax refunds to residents, proving that the state has its residents’ financial stability in mind.
Who will get these $500 checks in Georgia?
While being a citizen of the state of Georgia is one of the main requirements in order to receive these $500 checks as per House Bill 112, there are a few other criteria to consider as well. Firstly, citizens must have filed their 2023 and 2024 state income tax returns, which prove that they had a state liability for 2023. Secondly, citizens must be full-time residents in Georgia; however, part-time residents or even nonresidents who qualify by having paid taxes on Georgia state income are seen as being eligible as well. The most important requirement is for citizens to have settled all debts to the Georgia Department of Revenue.
The Georgia Tax Center’s Surplus Tax Refund Eligibility Tool is a great tool to use by residents who wish to check their eligibility and payment status. All that is needed to utilize this tool is the taxpayer’s adjusted gross income and their Social Security number.
Understanding how payment works
There are cases where residents receive payments lower than the stipulated $500 amount. People with outstanding debts to the Georgia Department of Revenue will have their rebates withheld or reduced.
Again, not all citizens will receive a rebate of exactly $500. The amount received depends on one’s filing status and is as follows:
- $250 for single filers or those married filing separately.
- $375 for heads of household.
- $500 for married couples filing jointly.
The $500 checks are not taxable as per Georgia’s law. How citizens choose to file their tax returns and the payment option they select for their taxes is fundamental in determining how their $500 checks will arrive.
Financial relief offered to citizens in Georgia
While it is clear that this state is in favor of paying for citizens’ summer holidays, the rebate is not the only financial aid offered to Georgians this year. Georgia has also changed from a tiered income tax system to a flat tax model, and Governor Kemp has signed legislation that deals with statewide tax cuts.
The tax rate presently set at 5,39% is believed to decrease yet again this year to 5,19%, and the decrease is happening one year earlier than has been scheduled. The overall goal is to reduce state taxes to about 4,99% by the year 2028. The state foresees that the total amount of taxpayer savings will be more than 870 million in 2025.
First checks are said to arrive next week
According to the Georgia Department of Revenue, the first set of checks will arrive mid-June, so citizens can expect payments by next week. All payments are usually processed within 6 to 8 weeks of the tax filing deadline. Payments will be issued to recipients who met the May 1 tax filing deadline.
While the first group will receive their checks in June, citizens who filed for a tax extension will see their payments being processed at a later stage in the year. All payments are issued based on the payment method chosen on the eligible taxpayer’s recent return. Irrespective of when in the year this rebate gets issued, these checks will go a long way to help citizens financially.
Disclaimer: Our coverage of stimulus checks, tax reliefs, tax rebates, tax credits, and other payments is based on the official sources listed in the article. All payment amounts and dates, as well as eligibility requirements, are subject to change by the governing institutions. Always consult the official source we provide to stay up to date and obtain information for your decision-making.
