14% Of Tax Return Is Set To Hit the Bank Accounts Days From Now in Massachusetts

Around three million residents or taxpayers in Massachusetts are set to receive 14 percent of what they have paid from their 2021 filed income taxes.

Tax returns
Tax returns in Massachusetts start to hit the bank accounts. (Photo: CNET)

14% Tax Return

Taxpayers in Massachusetts are about to receive their tax returns days from now. It is estimated that around three million will receive their tax returns or tax refunds. The computation is 14 percent of what they have filed during 2021 state income taxes.

In a published article in Washington Examiner, the majority of the taxpayers in Massachusetts have already received their tax returns in November. Meanwhile, those who are eligible but have not yet received their tax refunds will have them on Dec. 15.

Furthermore, the tax refund will be sent directly to taxpayers’ bank accounts via direct deposit or a check in the mail for those who don’t have it set up. It was also clarified that recipients will receive roughly 14% of the amount they paid in state income taxes.

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How Much Should You Expect To Receive?

The total amount received for the refunds is a fixed proportion of one’s paid income tax, which means that higher earners will get significantly more than lesser earnings. As an example, someone earning $35,000 would receive $200, while someone earning $1 million would receive $7,000. This has prompted criticism from some lawmakers, some of whom have proposed future changes to the rebates.

Massachusetts citizens who have yet to submit a 2021 tax return are lucky because the deadline has been extended until September 15, 2023, which means payments will be made far into next year.

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