Virginians can expect a one-time direct tax rebate of up to $250 for single filers as early as this Monday, with the state’s tax commission aiming to send over a million payments out by next weekend.
The first round of rebates is expected to be released as early as Sept. 19, and comes as part of a larger bipartisan measure passed by the state earlier this year.
STIMULUS UPDATE: DIRECT ONE-TIME $3,200 CHECK PAYMENTS TO BE SENT IN THREE DAYS
The rebates aim to provide financial relief for eligible taxpayers who had tax liabilities last year. A tax liability is the amount of tax owed throughout the year minus any tax credits, deductions, or subtractions, according to the Virginia Department of Taxation.
While millions will receive a rebate, not every taxpayer is eligible for the rebates. Eligible recipients who filed for the rebate by Sept. 5 can expect their payments next week. Approximately 1,250,000 rebates are expected to be sent out between Sept. 19-23, with a goal of sending out 250,000 rebates per day.
Rebates will arrive as either direct deposits or paper checks, depending on how an eligible taxpayer filed.
The rebates can be up to $250 for single filers and $500 for joint filers. However, if people owe money to certain government agencies, the government will use the rebate to pay off those debts and Virginians will receive the remaining amount left over, if any.
During a Tuesday meeting with the Virginia House of Delegates, State Tax Commissioner Craig Burns said that there will be a “soft launch” Friday and Saturday.
“A few thousand direct deposits, a few thousand checks, just to make sure everything works before we go live,” Burns said.
Burns added that the Department of Taxation expects to send out 3.2 million rebates by the end of the year, with 1.3 million direct deposit debates and 1.9 million check rebates.
CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER
About 2.9 million of the overall 3.2 million should be sent out by Oct. 10, and the rest will be sent out through the end of the year, he said.
Eligible Virginia residents must file by Nov. 1 to receive a rebate.
