Attention Massachusetts residents, a refund check could be coming your way soon thanks to a law that is over 30 years old.
An excess of tax collection triggered by the surplus of this fiscal year 2022, which ended on July 30, could result in the return of almost $ 3 billion dollars to taxpayers.
“If the state income exceeds the wages and salaries of Massachusetts state taxpayers then that money goes back to constituents,” says State Representative Frank Moran.
But who could benefit from this law from the 1980s?
“No matter what income you have, everyone who no longer taxes, which is approximately 3.8 million people who filed state taxes, will benefit from this piece of legislation, which will be available to us in September based on that report once we see the numbers it is estimated that an average of more than 3 billion dollars will be returned” says Moran.
These lump-sum payments would be a minimum of $250 to middle-income earners, but it would all vary based on your salary.
This would be the second time in history that this financial relief would be obtained once the state auditor determines that the state collected tax revenue above the level. It will be announced as early as September when these refunds would arrive.
The refund isn’t a done deal yet, though. State Rep. Ron Mariano said Friday that there’s a chance the chamber this weekend will vote to delay or kill the law that allows the money to be returned to taxpayers. .