$3b in tax cap checks to start going out Tuesday
Taxpayers will get back 14% of 2021 tax payment
STATE HOUSE NEWS SERVICE
THE FIRST CHECKS and direct deposits from a nearly $3 billion pot of excess tax revenue will head back to taxpayers starting on Tuesday when the calendar flips to November, the Baker administration announced Friday.
A spokesperson for the Executive Office of Administration and Finance said money will head out the door under the voter-approved tax cap law known as Chapter 62F, which taxpayers triggered for the first time since 1987 by delivering massive amounts of taxes.
About 3 million taxpayers will receive a refund in the form of a mailed check or a direct deposit worth about 14 percent of what they owed in state personal income tax in 2021, the spokesperson said. The administration plans to distribute the refunds on a rolling basis through December 15. The administration had previously estimated refunds of about 13 percent of income tax liabilities.
The Baker administration previously said taxpayers needed to file a 2021 tax return by October 17, 2022 to be eligible for a 62F refund, but a spokesperson said Friday the administration pushed that deadline until September 15, 2023 — which is the latest date possible to file a 2021 tax return when accounting for extensions — to accommodate taxpayers who might not have been aware of the original deadline.