For the past few months, the state of Hawaii has been sending tax refund payments back to individuals who live in the state. While many residents have already received their payment, if you filed late in 2022, you could receive your payment as late as March. Individuals who file their returns between July 31 and December 31 should receive their check up to 12 weeks or direct deposit up to 10 weeks after their return is accepted by the tax department. (source)
Where is this money coming from?
Governor David Ige signed a measure providing one-time tax refunds called Act 115. Those who earned less than $100,000 in taxable income will get $300, while residents making more than $100,000 will receive $100. So, if you have a family of four that qualifies to receive this refund, you could get the maximum refund amount of $1,200. According to Governor Ige, Hawaiians should start seeing direct deposits of a one-time tax refund. Close to $300 million is being returned to taxpayers. (source)
How much money will you receive?
Well, for individuals who earned less than $100,000 in 2021 and couples who earned less than $200,000 will get $300 per tax exemption. So if you have four people, that would mean you get the maximum payment of $1,200. (source) Otherwise, you can go here for more details about your tax rebate status as well as more information.
What do you think about this news about the tax refund from the state of Hawaii?
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Disclaimer: Please note that this article is only for educational and informational purposes.
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