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Up to $1,300 Direct Payments For Eligible Residents; Check Eligibility Here!

Up to $1,300 Direct Payments For Eligible Residents; Check Eligibility Here! (Photo: Value Walk)
Up to $1,300 Direct Payments For Eligible Residents; Check Eligibility Here! (Photo: Value Walk)

Time is running out for millions of Americans to claim their direct payments, which could be worth up to $1,300. The state legislature of Minnesota recently passed $3 billion in tax relief during the second quarter, resulting in rebate checks being issued to approximately 2.4 million residents.

While no application is required to receive the direct payments, it is important to note that certain taxpayers need to take action, and not everyone is eligible. (Photo: Blogging Big Blue)

While no application is required to receive the direct payments, it is important to note that certain taxpayers need to take action, and not everyone is eligible. (Photo: Blogging Big Blue)

Up to $1,300 Direct Payments

These direct payments aim to assist individuals with their everyday expenses such as groceries, school supplies, rent, or child care.

Paul Marquart, the commissioner of the Minnesota Department of Revenue, stated, “These direct payments will help millions of Minnesotans pay for everyday expenses such as groceries, school supplies, rent, or child care. We know it will be very valuable to a lot of people, and we look forward to sending payments out in early fall.”

According to U.S. Sun, while no application is required to receive direct payments, it is important to note that certain taxpayers need to take action, and not everyone is eligible.

It is important to note that direct payments are not considered taxable income on state taxes, according to the Minnesota Department of Revenue. However, the Internal Revenue Service (IRS) has yet to provide clarification on whether it will be eligible for federal taxation.

Please keep in mind that you only need to take action if your bank information or address has changed since filing your 2021 taxes.

If this applies to you, ensure that you update the information by July 28 using the online portal provided by the Minnesota Department of Revenue.

READ ALSO: Stimulus Check For July: Now Only Available In Alaska, Montana And New Mexico

Direct Payments Eligibility and Action

To be eligible for the direct payments, individuals must have been residents of Minnesota for part or all of 2021. Additionally, they must have either filed 2021 state income taxes or a form for the 2021 Homestead Credit Refund by December 31, 2022.

It is also crucial not to have been claimed as a dependent on another individual’s 2021 tax return, and anyone who was deceased before January 1, 2023, is not eligible.

The eligibility and the amount of direct payments will depend on income filing status and the number of dependents.

For joint filers, a direct payment of $520 is available if their income does not exceed $150,000. Single filers and all other filers can qualify for a $260 check if their income is $75,000 or less.

Taxpayers can also receive $260 for each dependent, with a maximum of three allowable dependents. Therefore, the maximum amount a family could receive is $1,300.

READ ALSO: Opioid Settlement: Texas Attorney General Secures $300 Million With CVS

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