Stimulus Update Minnesota Is Sending Out Paper Checks Worth up to $1,300 for Tax Rebates

Distribution Details:

• The Minnesota Department of Revenue confirmed that direct deposit payments were scheduled for completion by the end of the previous week. These deposits will be labeled as “State of Minnesota 2021 Tax Rebate Program” in bank statements.
• Those who didn’t receive the rebate via direct deposit will be issued a paper check, which is currently being dispatched.

Rebate Amounts:

• The rebate amount varies based on individual or family tax situations.
• Married couples with a joint tax filing and a gross income of $150,000 or below are eligible for a $520 rebate. On the other hand, single taxpayers earning $75,000 or less will qualify for a $260 rebate.
• Additionally, for each dependent claimed by an eligible taxpayer, an extra $260 will be added to the rebate, up to a maximum of three dependents. This means the highest rebate a family can obtain from the 2021 program is $1,300.

Tracking and Queries:

• The state has clarified that these rebates cannot be tracked. However, the Minnesota Department of Revenue advises residents to get in touch if they haven’t received their rebate by October.

Overall Impact:

• Minnesota officials project that approximately 2.1 million rebate payments will be distributed across the state.
• The timing of these rebates coincides with the back-to-school season, offering financial relief to families purchasing school essentials in the face of ongoing inflation.