Massachusetts is issuing one-time tax refunds that will ultimately reach some 3 million taxpayers.
If the states' intake exceeds a predetermined cap, the commonwealth is required to return the excess.
In fiscal year 2022, revenues overshot the threshold by nearly $3 billion.
It’s only the second time since Chapter 62F was instituted in 1986 that a refund has been triggered.
For more on tax relief, find out which states aremailing out tax rebatesand institutingsales tax holidays.
Who qualifies for the Massachusetts tax rebate?
How much is the Massachusetts tax rebate for?
The percentage was finalized by the Department of Revenue after the filing deadline passed in October.
When will I get my rebate?
Refunds issued by direct deposit will be labeledMASTTAXRFDin your bank statement.
