Montana residents who received their one-time tax rebate but yet not collected their payment are wishing to receive up to $2,500 by the end of December. The Treasure State has the individual income tax rebate, which provides a tax rebate for an eligible person’s 2021 income taxes. These rebate got started distributing from July and will going to be end on December 31.
Qualification for rebate are :-
- The recipient must be a resident of Montana for the entire 2021 tax year.
- The recipient must have filed a 2020 Montana resident or part-year resident tax return by the due date.
- They must have filed a 2021 Montana tax return by the due date.
- They must no have been claimed as a dependent on another taxpayer’s 2021 form.
- They must not have a Montana tax liability after any nonrefundable credits greater than $0.
According to the Montana Department of Revenue, no resident had not filed any application or did anything to claim the rebate. The department automatically sent the rebate to the qualified residents.Acording to the reports, the rebate amount would be the amount of Montana tax liability on line 20 of the tax return, or a maximum of $1,250 for single filers and $2,500 for married persons filing jointly.
Montana Revenue Department also proposed to offers a property tax rebate that includes property taxes paid in November of the year in which rebate has to be paid and this will be the first half of the payment and the second half has to be paid in May of the next year.