Tax refunds are a welcome influx of money, particularly presently of yr when vacation spending tends to extend together with payments. With that in thoughts, Montana residents may earn themselves a sum of as much as $2,500 in the event that they filed their returns on time in 2021.
The earnings tax refund distribution is deliberate by the Montana Division of Income to be accomplished by December 31, after starting the method in July.
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The quantity of this particular person earnings tax refund is dependent upon the submitting standing and the quantity paid in a type, which may be discovered on line 20 of the 2021 Montana Type 2.
The refund will likely be $1,250 for single or head of family filers who filed individually, and $2,500 for married taxpayers submitting collectively.
“Montanans overpaid taxes and we’ll refund them,” Gov. Greg Gianforte stated in a press release. “I count on this cash to return into the pockets of Montanans the place it belongs.”
The place can I verify the standing of my refund?
Taxpayers should not required to assert a person earnings tax refund. The division will mechanically ship refunds to those that qualify.
The refund course of started distributing refunds in July, however you probably have not but acquired a refund, you’ll be able to verify the standing of your particular person earnings tax refund within the ‘The place’s My Refund?’ part on Montana’s TransAction Portal (TAP): https://faucet.dor.mt.gov.
Who qualifies for this refund?
A taxpayer qualifies for the person earnings tax refund if:
- They had been a Montana resident for the complete 2021 tax yr starting January 1, 2021.
- Filed a Montana resident or resident return for a part of 2020.
- Filed a 2021 Montana resident tax return.
- Filed your 2020 and 2021 Montana tax returns by the 2021 tax yr due date (together with extensions).
- One other taxpayer didn’t declare you as a dependent for federal or Montana earnings tax functions in tax yr 2021.
- Line 20 of your 2021 Montana Type 2 has an quantity larger than zero.
