The best news possible has been received by thousands of Georgia taxpayers due to the mention of the surplus tax refunds from the state that will be reaching citizens’ bank accounts soon. Up to $500 could be received by eligible Georgians, and now that the date has been confirmed for this payment, citizens are all the more excited about receiving their checks this summer. The payment process is well underway and is gaining momentum along the way, so while not all citizens have received their refunds as yet, they need to know when to look out for them.
Looking at the eligibility criteria for this payment of up to $500
Georgia has been making headlines ever since Governor Brian Kemp mentioned the legislation whereby the state would be issuing one-time surplus income tax refunds to all eligible residents in the state. For a third year in a row, this state has chosen to return part of its budget surplus to its taxpayers.
Eligibility is determined according to the following requirements:
- Georgia taxpayers should have filed both their 2023 and 2024 tax returns.
- Citizens needed to pay state income taxes, and they should not owe the Georgia Department of Revenue anything, nor should they have any state-related outstanding debts.
Once the eligibility criteria have been noted, citizens can concentrate on how much it is they will receive.
Understanding how much each citizen gets
The refund amount received will not be able to be more than the taxpayer’s 2023 tax liability, and the refund amount will be provided accordingly:
- $250 for single filers or married individuals filing separately
- $375 for head of household filers
- $500 for married couples filing jointly
For this once-off rebate, Georgia taxpayers will not have to pay any taxes on the amount that they have received. With up to $500 hitting citizens’ bank accounts soon, Georgia could be paying for the summer holidays of some of their citizens.
When have payment dates been confirmed for?
The initial refund payment started in the second week of June, and as has been confirmed by the Georgia Department of Revenue, all these refund checks and direct deposits will be issued until late June and early July. Payments are not made all at once and tend to go out in batches.
The gradual issuing of these checks will give the state the chance to monitor that the process runs smoothly, no IT upsets get in the way of payment, and that there are no issues with deposits or paper checks. Early tax filers have received their payments already. However, citizens who have not yet received their tax rebate should hang tight or rely on Georgia’s refund status tool available through the Georgia Tax Center.
To check the status of your tax return, utilize:
- Social Security Number or Tax ID
- 2023 federal adjusted gross income (Line 16 on Georgia Form 500 or Line 4 on Form 500EZ)
- Your respective filing status
The system will be able to inform you about your eligibility status as well as when your deposit should be expected.
Why has Georgia decided on this once-off tax rebate?
Due to the passing of House Bill 112, this tax refund became a possibility. However, this payment to taxpaying Georgian citizens shows the state’s commitment to providing tax relief and financial assistance to citizens to ensure that citizens are able to deal with their financial stress more easily.
An amount of up to $500 is well worth it for many citizens, and with the state delivering on its promise to send out payments to the first group in June, many other eligible citizens will be receiving their payments soon as well. Citizens will need to keep an eye on their bank accounts as expecting this tax payment already gives citizens something to look forward to.
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.
