Another step in the process to getting your rebate check from the state is being announced Monday.
If your address or bank account has changed since filing your 2021 tax return, you need to complete a form on the Minnesota Department of Revenue's website by July 28th.
Minnesota Revenue Commissioner Paul Marquart says that is the only thing you need to do in order to receive your refund. They add that you do not need to do anything if your information has not changed.
"And once you've done that, very simple, you just have to wait for that check," says Marquart. "That should come out in early fall."
Marquart says married couples filing jointly and making less than $150,000 per year will receive $520. Single filers making less than $75,000 a year will receive $260. Parents within those income brackets will receive another $260 per child, up to three kids.
As for using 2021 tax returns, Marquart that was done on purpose.
"The idea was that folks experienced a lot of hardship during COVID-19," Marquart explains about using 2021 tax returns. "Many still are. There's an inflation that occurred. It's still with us. And so we wanted to relate that to the year that had the most impact on taxpayers as far as COVID-19."
You can update your information through the state's website here.
The rebate checks come after Democratic negotiators in both the House and Senate struck a deal on a $3 billion tax bill in May. The state of Minnesota had around $17 billion in surplus heading into this year's legislative session.
Last year Governor Walz had proposed rebate checks for Minnesotans at a higher $2,000 amount, but Republicans labeled it a "campaign gimmick" and asked for significant spending cuts instead. DFL lawmakers wanted to give back lesser amounts and spend more surplus money before this current deal was struck.
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What to Know
You are eligible if you meet all of the following requirements:
1- You were a Minnesota resident for part or all of 2021
2- You filed one of the following returns by December 31, 2022:
2021 Form M1, Minnesota Individual Income Tax, or a 2021 Form M1PR, Homestead Credit Refund (for Homeowners) and Renter’s Property Tax Refund.
3- Your 2021 adjusted gross income (line 1 of Form M1 or Form M1PR) was:
$150,000 or less for married joint filers or $75,000 or less for all other filers.
4- You were not claimed as a dependent on someone else's 2021 Minnesota income tax return
Taxpayers who died before January 1, 2023, are not eligible. Part-year residents receive a portion of the refund based on their time in Minnesota.