Stimulus Payments 2022: When will Americans receive their first rebate payments?

With inflation still much higher than it was at the start of the year, several states in the United States have begun issuing payments of some kind to help ease the burden on the higher cost of living for its residents.

South Carolina is one such state, offering its residents a tax rebate of up to 700 dollars from a billion-dollar pot. The state’s lawmakers approved the refunds this past June when they finalized the budget. This rebate will be based upon your tax liability up to a particular amount.

The final amount, however, cannot be determined until after October 17, 2022, when all eligible returns have been filed.

“We are on schedule to issue rebates by the end of the year,” said South Carolina Department of Revenue (SCDR) Director Hartley Powell in a press statement.

“You must file your 2021 SC Individual Income Tax return by October 17 to be eligible. So even if you missed the due date in April, file your return with us by October 17.”

Who is eligible?

To be eligible to receive the tax rebate, residents in the state must meet the following criteria:

• They must have filed an SC Individual Income Tax return (SC1040) for the tax year 2021 by October 17, 2022.
• They must have owed state Income Tax for the tax year 2021, which tax professionals’ term as tax liability. Specifically, that is the Income Tax you owe minus any credits.
• They can be a South Carolina resident, part-year resident, or nonresident.

Those who have not filed an SC Individual Income Tax return by October 17, 2022, and taxpayers with no state Individual Income Tax liability for the 2021 tax year will not be eligible.

How much will you get?

This will depend on your 2021 Individual Income Tax return (SC1040). You will be eligible for a rebate if you have a balance online. If you don’t, you will not receive a refund.

When will you get the payment?

Payments will be disbursed by December 31, 2022.

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