Stimulus Check 2022 update: State offers $1 billion in payments

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South Carolina residents must file taxes by October to receive new stimulus check – In another state, another stimulus check program is being rolled out.

In June, South Carolina lawmakers passed a state tax rebate program — yes, another stimulus check-type program — worth nearly $1 billion. The refund has been made available to eligible taxpayers who filed their 2021 personal income tax returns by the October deadline, but it will not be available to all taxpayers.

The stimulus check will not be payable to approximately 44% of filers who do not pay state income taxes, but will be paid to 56% of taxpayers who will receive a refund based on their tax liability .

How the new stimulus check works

To qualify for the rebate, a South Carolina taxpayer must be taxable for the 2021 tax year. This means that the rebate is only given to people who owe money to the Statement on their 2021 tax returns.

Liability is calculated by the state by subtracting all credits from the amount of personal income tax owed by a taxpayer.

Each 2021 tax return will receive a stimulus check equal to the money owed to the state, with a cap between $700 and $800. For this reason, it is difficult to offer an estimate or average of how much South Carolina taxpayers should receive under the rebate program, given the diversity of individual tax filings.

South Carolina stimulus check: Are you eligible?

To be eligible for South Carolina tax refunds, you must have filed a 2021 state personal income tax return by the October 17, 2022 deadline. There must also have been tax payable for the 2021 tax year, due to the operation of the state reimbursement system.

Unlike other states, however, eligibility does not require an individual to be a full-time resident of South Carolina. Eligible taxpayers include residents, part-year residents, and non-residents.

You will not be eligible to receive the refund if you do not file your tax return by the October 17, 2022 deadline or if you had no tax payable for the 2021 tax year.

Here’s how to calculate what’s owed to you

To determine how much the state owes you, look at your 2021 tax return and see if there is a liability on line 10. Those without liabilities will not receive a refund.

Those with $1 or more on line 10 should add the refundable credits to which they are entitled, which are found on lines 21 and 22. Subtract these credits from line 15.

If the amount is less than the reimbursement ceiling, estimated between $700 and $800, the amount calculated is the amount payable in reimbursement. If the number is above the cap, you will receive the maximum refund.

Jack Buckby is a British author, counter-extremism researcher and journalist based in New York. Reporting from the UK, Europe and the US, it strives to analyze and understand left and right radicalisation, and reports on Western government approaches to pressing issues of today. His books and research papers explore these themes and offer pragmatic solutions to our increasingly polarized society.

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