Expand / Collapse search
Watch TV
Menu

This material may not be published, broadcast, rewritten, or redistributed. ©2024 FOX News Network, LLC. All rights reserved. Quotes displayed in real-time or delayed by at least 15 minutes. Market data provided by Factset. Powered and implemented by FactSet Digital Solutions. Legal Statement. Mutual Fund and ETF data provided by Refinitiv Lipper.

Alabama

Alabama residents to receive tax refund from surplus in Education Trust Fund

Approximately 1.9 million AL residents will benefit from the rebates, funded by a $2.8 billion surplus

Associated Press
Published
close
Fox News Flash top headlines for November 30 Video

Fox News Flash top headlines for November 30

Fox News Flash top headlines are here. Check out what's clicking on Foxnews.com.

  • 1.9 million Alabama residents are slated to receive a tax rebate due to a surplus in the Education Trust Fund.
  • The Alabama Department of Revenue is initiating payments on Friday through direct deposit or paper check.
  • To qualify for the rebate, an individual must have filed a 2021 individual income tax return on or before Oct. 17, 2022.

Alabama residents soon will begin receiving one-time tax rebates of up to $300.

The Alabama Department of Revenue will start issuing the payments on Friday by direct deposit or paper check, depending on how residents received their 2021 tax refund. Payments will be sent to some 1.9 million residents, al.com reported.

ALABAMA TO GIVE RESIDENTS $150 TAX REBATE CHECK STARTING NOV. 30

Rebates will cost the state about $393 million, which comes from a $2.8 billion surplus in the Education Trust Fund.

The rebates, totaling around $393 million, are exclusive of state taxes and are available to those who filed a 2021 individual income tax return on or before Oct. 17, 2022.

To qualify for the rebates — $150 for single filers or $300 for married couples filing jointly — taxpayers must have filed a 2021 individual income tax return on or before Oct. 17, 2022. There are no income limits or phase-outs for payments, however, there are some who will not receive a tax rebate, including:

1. Those who did not file a 2021 state Individual Income Tax return by Oct. 17, 2022;

2. Those who are not state residents;

3. Estate or trust accounts;

4. Those who claimed as a dependent during the 2021 tax year.

ALABAMA GOV. KAY IVEY PROPOSES ONE-TIME TAX REBATES, TEACHER PAY RAISES

Eligible residents who did not receive a 2021 tax year refund will receive a rebate by paper check mailed to the current address on file with the state revenue department. Paper checks will also be issued to those whose banking information has changed or who received a 2021 refund using a tax preparer’s account.

The payments are exempt from state taxes.