Nearly $1.2 billion of additional tax refunds are headed to Georgia taxpayers beginning this week.
The Georgia Department of Revenue on Monday announced it has begun issuing the refunds — ranging from $250 to $500 — to eligible taxpayers. Here’s what you need to know.
The bill: In April, Gov. Brian Kemp signed House Bill 112, which authorizes the refunds. They are one way the General Assembly decided to spend some of the state’s $16.5 billion in reserves during the recent legislative session. It’s the latest in a series of refunds and tax rate cuts lawmakers have approved in recent years as a massive federal spending spree and an economic boom boosted state revenue.
Who’s eligible: To receive a refund, taxpayers must have been full-year Georgia residents in 2023 and 2024 and filed income tax returns for both years. Part-year and nonresidents who filed state returns for both years will be eligible for partial refunds.
You might also receive a partial refund if you owe money to the state or if you paid less in 2023 taxes than the maximum refund allowed.
The maximum amount: Individuals or married people filing separately will receive a refund of up to $250. Heads of household will get up to $375, and married couples filing jointly will receive up to $500. These refunds are separate from the regular refunds you might have received after you filed your taxes.
What’s happening now: The Department of Revenue has begun issuing the refunds via direct deposit or check, depending on the preference filers selected on their tax returns. The process will continue in the coming weeks.
What they’re saying: In a press release Monday, Kemp hailed the refund as “just one more way we’re working to support the people of our state, their families, and their businesses, because that’s not the government’s money, it’s theirs!”
More information: You can learn more about your eligibility for the state income tax refund at https://dor.georgia.gov/2024-hb-112-surplus-tax-refund-faqs.
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