Personal Finance

1300 Property Tax Rebate: Find out when you will receive your payment if you claim it this month

Minnesota Department of Revenue reissued 128,000 one-time tax refund checks, valid for two years, following a May 2023 law distributing 2.1 million Direct Tax Rebate payments.

1300 Property Tax Rebate: To address the issue of uncashed and expired tax refund checks from last year, the Minnesota Department of Revenue has reissued 128,000 one-time tax refund checks. These checks are now valid for two years and have been mailed to the most recent addresses on file.

This initiative follows a law passed in May 2023, which led to the distribution of nearly 2.1 million Direct Tax Rebate payments, totalling approximately $1 billion. The amounts and eligibility for these refunds were determined based on 2021 income tax or property tax refund returns.

In August and September, payments were initially made via paper check or direct deposit. Checks that were not cashed were reissued in November and December, and checks that were not claimed were reissued in February and March.

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According to the IRS, these refund payments are taxable on federal returns. Each beneficiary will receive Form 1099-MISC for their 2023 individual income tax returns.

The one-time rebate provision provided eligible taxpayers with a maximum refund of $1,300. This amount included an extra $260 for each dependent claimed, up to three dependents, and $520 for married couples filing jointly with an adjusted gross income of $150,000 or less. Additionally, individuals with an adjusted gross income of $75,000 or less received $260.

1300 Property Tax Rebate: When will my refund arrive?

According to the Nicollet County website in Minnesota, the M1PR form is due on August 15th, but returns will be accepted and processed until August 15th of the following year.

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“Refunds will be mailed in late September or early October if received by the August 15 deadline. Otherwise, you can expect your refund within 60 days of when filed. You may receive your refund earlier if you file electronically.”

Eduvast Desk

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