Residents of Minnesota, there’s exciting news you might not be aware of: you could be entitled to an Stimulus Check unclaimed benefit from the state. In 2023, Minnesota issued a rebate of up to $1,300 to its residents, but surprisingly, many have yet to claim it. According to the Minnesota Department of Revenue, at least 128,000 checks remain uncashed. While these rebates are valid for another two years, it’s best to act sooner rather than later to ensure you don’t miss out.
This rebate is a valuable post-pandemic benefit that can provide much-needed financial relief in today’s challenging economic climate. However, this rebate isn’t automatically granted to everyone. To receive it, you would have needed to apply and meet certain criteria.
$1,300 Stimulus Check in Unclaimed Benefits
Don’t let this opportunity slip through your fingers. If you meet the eligibility criteria, make sure to claim your rebate and benefit from this financial support. The longer you wait, the less likely you are to follow through. Act now and give your family’s budget a boost with this rebate.
To qualify for this tax rebate, you must have met the following conditions:
- Be a resident of the state of Minnesota for all or part of 2021.
- 2021 Form M1: Minnesota Individual Income Tax
- 2021 Form M1PR: Homestead Credit Refund (for homeowners) and Renter’s Property Tax Refund
Eligibility Requirements
To qualify for these refunds, ensure that you meet the following criteria:
- Have an adjusted gross income in 2021 (line 1 of Form M1 or Form M1PR) of $150,000 or less for married filing jointly, or $75,000 or less for individual taxpayers.
- Not claimed as a dependent on another person’s 2021 Minnesota income tax return.
Special Clarifications and Exceptions
The company provides clarifications for specific cases, such as:
- If an eligible married couple filed a joint return in 2021 and one of the spouses dies before January 1, 2023, the surviving spouse is entitled to the full refund.
- If an individual taxpayer dies before that date, his or her dependents are not eligible to claim the refund.
Refund Amounts
Wondering how much you might receive? According to the Minnesota Department of Revenue, the refund amounts vary:
- Couples with at least three dependents in the lower economic brackets can get up to $1,300.
- Taxpayers filing jointly with an adjusted gross income of $150,000 could receive up to $520.
- Individual taxpayers with an adjusted gross income of $75,000 could receive up to $260 in refund.
Don’t miss out on these valuable refunds! Ensure you meet the criteria and file the necessary forms by the end of the year.
When it comes to managing your taxes, it’s crucial to understand how different rebates are treated. The Internal Revenue Service (IRS) considers this particular rebate as taxable income on your federal tax return. Therefore, it’s essential to file correctly to avoid any potential penalties. On the other hand, this rebate is not taxable on your Minnesota income tax return.
