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18 states sending residents tax refunds/rebates

September 17, 2022
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So far this year, 17 states have or will issue rebate money to their residents. Massachusetts is about to up that list count to 18, thanks to a 1986 state law.

The Bay State's Department of Revenue this summer reported a fiscal-year-end tax revenue surplus of nearly $3 billion. Once the state auditor certifies the amount, which at the last unofficial count was $2.941 billion, the tax cap law known as Chapter 62F takes effect.

The payback law, a referendum approved 36 years ago by Massachusetts voters, requires the state rebate its taxpayers a percentage of the taxes they paid last year once a qualifying excess is attained.

The state auditor has until Tuesday, Sept. 20, to validate that Massachusetts' revenue did grow by more than the growth in residents' wages and salaries. If that happens, it would be just the second time the revenue cap rebate was triggered.

Cheers and shout outs for tax refunds and rebates: Since Bay Staters have lots of questions about the rebate, which is expected to start going out in November, the first of this weekend's Saturday Shout Out items is the Massachusetts tax office's online frequently asked questions about the Chapter 62F taxpayer refunds.

And since, as noted earlier in this post, Massachusetts is just the latest state to offer its taxpayers some financial relief, a second Saturday Shout Out goes to Dan Avery's State Stimulus Payments Update article for CNET.

Avery highlights the payments going out in Massachusetts, as well as refunds headed to residents of California, Colorado, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Maine, Minnesota, New Jersey, New Mexico, New York, Pennsylvania, South Carolina, and Virginia.

If you're due some money from your state treasury, here's hoping you get it soon. Spend wisely!

You also might find these items of interest:

 

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TO WRAP UP 2026

It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill. 

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings. 

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year. 

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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