Many Alabamians will soon have a little extra money for the holidays.
The Alabama Department of Revenue will start sending the one-time tax rebates out this Friday, December 1st. That amount of each rebate is based on the qualified taxpayer’s status – $150 or single, head of family and married filing separately or it will be – $300 for married filing jointly. Roughly 1.9 million Alabamians will receive a payment.
To qualify for those rebates, taxpayers must have filed a 2021 Individual Income Tax return which ALDOR received on or before – October 17th of 2022. Non-residents, estates, or trusts – or anyone who was claimed as a dependent during the 2021 tax year do not qualify. Taxpayers can expect to receive their rebate based on how they got their 2021 tax year refund – that being by direct deposit or paper check; if you didn’t receive a refund in tax year 2021, you can expect a paper check.
The rebates will not be subject to Alabama income taxes. The plan will cost the state some $393 million – which comes from a $2.8 billion surplus in the Education Trust Fund.
(www.AL.COM)