MA Residents: Can You Use A Little Extra $$$?

Let's face it: During these tough times, everybody can use some extra MOOLAH, MOOLAH, MOOLAH in their wallets or pocketbooks. This is not the first time we have addressed this subject, but it is always pleasant to discuss this topic at hand. A little bonus cash is always a good thing, if you ask me. Massachusetts residents take note: Approximately 3 million taxpayers are scheduled to receive funds in the form of a mailed check or a direct deposit from the Bay State of Massachusetts as these coveted and welcomed payments from the state began late last year and they are still in the process of distributing these much-needed funds.

State Auditor Suzanne Bump has some eye-popping numbers to share with us from Bean Town as she announced the net state tax revenues of $41,812,654,358 for 2022 are above the allowable state tax revenues of $38,871,154,627 by the amount of $2,941,499,731. WOW! this translates into a whole lot a whole lot of cash!

According to The Department of Revenue, eligible taxpayers will be able to receive a credit in the form of a refund that is approximately 13% of their Massachusetts Tax Year 2021 personal income tax liability. For example, if you paid $3,000 in taxes to the state, you would receive approximately $390.00. For more information, log on directly to the state website by going here

But you'll have to wait until this reward will settle in: According to the state, it will take about 8-10 weeks for direct deposit requests. tack on another extra week if you want a paper check. So if you requested your money in December, you should likely see your payment now. Keep checking to find out if you will be able to add some extra cash in your wallet because one never knows! A good thing if you ask me!

(Some information that was obtained in this article, courtesy of the web site, www.original.newsbreak.com)