Here’s Important Info About Your New Jersey Middle Class Tax Rebate Check
It's always awesome, and pretty rare, to get a happy surprise in your mailbox mixed in with all those bills. People throughout New Jersey may have been surprised to find a check in the mail in the past few weeks.. Have you gotten your Middle Class Tax Rebate check yet?
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The Middle Class Tax Rebate was added into the 2021 budget by Governor Phil Murphy and the check comes with a friendly reminder of that.
So, who gets the checks? these checks are sent to New Jersey residents who sent in an NJ-1040 Tax Return and claimed at least one dependent and have a $1 or more tax balance.
There are also additional requirements according to the New Jersey state website, including the fact that you must have been a resident of the Garden State for all or part of 2020. See all the requirements here.
The checks started being sent out in early July and all the initial checks were expected to be sent out in about a six week period, but if you haven't received yours yet, the state says they will continue to send checks as tax returns are processed through the end of this year. You did not have to apply for this rebate.
If you're anticipating yours, or trying to figure out how the state came up with the figure you've already received, here's the formula, and it's actually pretty simple. If the amount on Line 50 of your tax return is less than $500, then you get a check for the amount listed on your line 50.
If the amount on Line 50 is $500 or more, you get a check for $500, according to the state website.It's nice to get more than just bills in that mailbox once in a while..