Residents of four states in the US may be eligible for future stimulus payments, which will begin in May as the country battles high inflation. Of these four states, residents of Delaware are in luck.
By the end of May, the state of Delaware intends to give a tax rebate. Individual filers will receive $300, while married couples filing jointly would receive $600.
Delaware citizens who have submitted a personal income tax return for 2020 will receive the rebates. According to Delaware Online, the rebate also applies to residents who did not earn enough to submit taxes in 2020.
The cash boost is estimated to help almost 600,000 residents in the state who filed their 2020 tax forms.
Delaware lawmakers had been expecting an extra $824 million in revenue this fiscal year for months. Given the state's significant $1 billion surpluses, lawmakers thought a rebate program would be the best approach to deliver immediate relief to Delawareans in need.
If your earned income was more in 2019 than in 2020, you could calculate your EITC for 2020 using the 2019 amount. The Taxpayer Certainty and Disaster Tax Relief Act of 2020 provide this interim relief.
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