Besides tax cuts, South Carolina will give out one-time payments. This money will help residents cope with the rising cost of food, gas, and expenses. The payouts are for later this year.
The South Carolina Department of Revenue has set aside $1 billion for return to taxpayers. The state is finalizing details about the exact amount citizens will receive. Other states have already given out checks. Meanwhile, most states have decided to give out their relief payments in the summer. (source). The others, like South Carolina, will have Fall payouts, are:
- Colorado Residents To Receive Million In Cash Back Checks
- Virginia Residents to Receive State Stimulus Checks
Almost 1.5 million tax filers could get the rebate. The size of each check depends on the filer’s 2021 income tax liability. About 80% of the rebates will get deposited directly into the accounts of taxpayers who selected the option, the department said. Ashley Thomas is a spokeswoman for the Department of Revenue. Ashley says, “The exciting part about this is I hope it will help encourage people who aren’t currently choosing direct deposit to do so in the future because it’s a safer and faster way to receive your refund.” (source)
The state expects to give around $800 for the final tax return. But this depends on the filing done by October 17. (source). Almost 56% of the state's taxpayers can expect a rebate. Non-filers will not receive a check. (source) The amounts will get delivered between late November and early December. All the payments should be out by December 31, 2022. (source)
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*Disclaimer: This article is for informational purposes only. This article got written using accredited media reports.*