December’s $2,500 Aid: Beneficiaries Revealed Soon

December's $2,500 Aid: Beneficiaries Revealed Soon

Montana residents who filed tax returns in 2021 will receive their tax refund worth up to $2,500 before the end of the year.

The Montana Department of Revenue plans to finalize the distribution of an income tax refund on December 31 after beginning the process back in July.

What does the amount you receive depend on?

The exact amount you get back depends on several different factors. To start, you will need to have met the criteria of being a Montana resident for the entire 2021 tax year and filed a return for 2020 and 2021 on time.

It also stipulates that you are not allowed to have claimed as a dependent on someone else’s tax form or have a figure greater than zero on line 20 of the 2021 return.

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Those who filed jointly as a married couple could receive up to $2,500, while single filers could earn $1,250.

Those amounts are the maximum available and the amount displayed on the check will be the maximum amount based on your filing status or the amount on line 20 of the tax form – whichever is less.

Taxpayers do not have to do anything else to get the cash, and according to Newsweek, those who qualify should expect to receive it before the end of the year.

Who qualifies for this payment?

You will qualify for the individual income tax refund if:

•You were a Montana resident for the entire 2021 tax year beginning January 1, 2021.
•You filed a Montana resident or resident return for part of the 2020 year.
•You filed a 2021 Montana resident tax return.
•You filed your 2020 and 2021 Montana tax returns by the 2021 tax year due date (including extensions).
•You were not claimed as a dependent by another taxpayer for federal or Montana income tax purposes in the tax year of 2021.
•Line 20 of your 2021 Montana Form 2 has an amount greater than zero.

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Shrabani Sarkar is a celebrity news author who has been covering the latest gossip and scandals in the entertainment industry for Panasiabiz. Shrabani is passionate about celebrity news and enjoys sharing her insights and opinions with her loyal fans. Shrabani can be reached at [email protected]