Tax rebates are on the way after an extra billion dollars was added to the Virginia budget, and now, those within the Commonwealth can check whether some extra money will be hitting their bank account soon.
To check your eligibility for the one-time rebate, head to Virginia’s rebate website.
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Rebates will be distributed on a rolling basis, meaning that some taxpayers could receive their refunds within the next three weeks, with most receiving them by Nov. 7.
According to Gov. Glenn Youngkin’s office, those eligible will receive a one-tax rebate of up to $200 if they filed individually, and as much as $400 if they filed jointly.
In order to be eligible, taxpayers are required to file by Nov. 1 and have had a tax liability.
However, there are a few things that could knock you out of getting the rebate.
For instance, if you get social security, disability, or unemployment checks, you’re automatically out of the running.
In addition to this, if as an individual filer, your adjusted gross income is less than about $12,000 you’re not getting a rebate. This also applies to family filers who make an adjusted gross income of less than nearly $24,000.
“Saving money has been a challenge so saving some extra money is always helpful, just to make sure when that rainy day does come, got some extra dollars or when tax time comes back around again,” Christopher Turner, a business owner, said laughing.
If you are eligible, you’ll get the money the same way you got your refund, either direct deposit or a paper check will be sent to you through the mail.
“This is a big moment for Virginians to, hopefully, appreciate, that we can reduce tax burdens and we can make critical investments in education, law enforcement and behavioral health,” said Gov. Glenn Youngkin.
If you are eligible but owe money to a local or state agency or institution, the amount you owe will be taken out of your rebate.
