A Little Extra $$ In Your Pocket Is Always A Good Thing!
Extra MOOLAH, MOOLAH, MOOLAH! These days, we could ALL use a little extra cash in our wallets and we have good news if you live in the Bay State: It's very possible that you'll be getting a payment from the state. And how is that possible? Well, we have the answer: Approximately 3 million taxpayers will receive money in the form of a mailed check or a direct deposit from the state of Massachusetts. These payments started at the end of 2022.
Normally, it takes about 8-10 weeks for direct deposit requests. Add another week if you want to receive these funds via a paper check. So if you requested your money at the end of 2022, you should likely see your payment now.
However, we do have some common reasons that could slow down the refund process:
- Maybe you added the wrong Social Security number (which is also your taxpayer ID #)
- Included the wrong banking information (routing and account numbers on checking OR savings account)
- Made a typo (i.e. a spelling mistake)
- Made a mathematical error (FYI--I was "never" good at that subject! NOT a fan of arithmetic AT ALL!!)
- Submitted a tax return that contains more than one filing status
- An amended tax return
- Included the incorrect number of dependents
- Maybe you filed too early. It's ideal to expedite this during the months of February and march and PRIOR to the tax deadline of April 15th
The Department of Revenue says that eligible taxpayers will receive a credit in the form of a refund that is approximately 13% of their Massachusetts Tax Year 2021 personal income tax liability. To clarify any of this information, log on to the state's web site.
BOTTOM LINE: It's ALWAYS good to get something for nothing, especially when it comes to the subject of greenbacks. This gesture will truly will assist those who are trying to make ends meet and it could not arrive at a better time!
(Some information obtained in this article, courtesy of www.originalnewsbreak.com)