In a bid to support its residents amid their financial obligations, the state of Montana is distributing state stimulus checks. This program is specifically geared towards residents who pay income tax. The initiative kicked off with the first set of checks being issued in early July, and it’s projected that most recipients will have received their payments by the close of August 2023.
Data released by the state of Montana suggest that an estimated 530,000 taxpayers will be eligible for this stimulus check extra financial boost. It’s anticipated that a considerable number of these checks will be disseminated prior to the end of August, with the overall delivery schedule set to be concluded no later than December 31, 2023.
Stimulus Checks in Montana: Who could collect the $2,500 now
The Montana Department of Revenue advises that if you have received a state notice relating to your 2020, 2021, or 2022 Form 2, it’s likely that your stimulus check will be temporarily withheld until your identity can be confirmed. The exact amount you will receive depends on your marital status as indicated on your tax return. For single taxpayers, the stimulus amount hovers around $1,250, while for married couples filing jointly, it can reach up to $2,500.
The Montana Department of Revenue stipulates a list of qualifications for eligibility:
- The recipient must have maintained residency in Montana for the entire 2021 fiscal year.
- They must have filed a tax return for either 2020 or 2021 before the 2021 fiscal year’s deadline.
- They should not be claimed as a dependent on any taxpayer’s 2020/2021 tax return.
- The 2021 Montana Form 2’s line 20 must display a figure that exceeds $0.
As for the application process, there’s no need for further action on your part. The Montana Department of Revenue will handle all the legwork, dispatching your payment either through direct deposit or by sending a check to your mailing address.
If you qualified for the tax rebate, your check should have been issued by now, during the month of July. Individual Income Tax Rebates will be issued by December 31, 2023.
The property tax rebate in Montana: You could claim up to $675
The Property Tax Rebate offers a refund of up to $675 per year on property taxes paid for a primary residence in Montana. This rebate applies to property taxes paid in both the 2022 and 2023 tax years. The amount of the Property Tax Rebate is fixed at $675, but it cannot exceed the total property taxes paid on the primary residence in Montana for each respective year.
Each stimulus check billed in Montana is sent to qualifying taxpayers that comply to this requirements:
- Owned a Montana residence for seven months or more.
- Lived in this Montana residence for seven months or more.
- Had property taxes, including special assessments and other fees, billed on this residence.
- Paid the property taxes, on time, on this residence.
If you moved to Montana in either of these two years, you can still claim these stimulus checks if you owned and lived in a primary residence for at least seven consecutive months for the refund year, and the applicable property taxes were properly paid.
The property tax bill should be directed to and registered under the name of the individual or grantor revocable trust seeking the rebate. Properties owned by an LLC or corporation are not eligible for the rebate, even if a member or shareholder resided in the home for over seven months in 2022. Additionally, estates and trusts, except for grantor revocable trusts, do not qualify for the rebate.
The qualifying taxpayers must submit claims for the 2022 Property Tax Rebate on August 15, 2023, and before October 1, 2023.
If you live in Idaho, this is how you could claim your tax rebate check
In August, the state of Idaho is sending at least three different tax rebates, as follows:
- In September 2022, Governor Brad Little approved a bill aimed at delivering tax relief to the residents of Idaho. The bill entails a substantial sum of $500 million allocated for this purpose. Eligible for this tax relief are full-year Idaho residents who filed income tax returns for the years 2020 and 2021. These qualifying individuals can look forward to receiving a one-time rebate as part of this 2022 Special Session Rebate initiative.
- In February 2022, Little signed a bill to send $350 million. Full-year Idaho residents in 2020 and 2021 who file income tax returns for those years qualify for a one-time rebate. You might still claim your money if you qualified.
- In May 2023, Little signed a bill that created a 2021 fund for tax relief. You can find out the status of your rebates using the Where’s My Rebate tool at tax.idaho.gov/rebate.