$520 Rebate Payments Arriving This Week: Eligibility Tied to 2021 Adjusted Gross Income

Minnesota is providing a one-time $260 payment to a maximum of 128,000 individuals who missed claiming it initially. Wondering if you qualify? How can one make a claim?

The money orders were sent out by the Minnesota Department of Revenue months ago, but unfortunately, over 100,000 individuals failed to receive them before the 60-day deadline.

There is a theory that some people discarded the money order due to its Montana return address. However, the Department of Revenue will address this by prominently displaying its logo and name on the document.

Therefore, the state will provide those people with a second opportunity and will also benefit from positive publicity, even though facing financial constraints during challenging economic conditions affecting millions of Americans.

Sales Tax Commissioner Paul Marquart told the Senate Taxes Committee, “It looks like a normal Minnesota check.” “So you have two years to cash that one in.” If it’s not cashed after two years, it’s sent to lost property.

Minnesota Tax Refunds

If someone thinks they should get the refund but doesn’t get it by May 1, they should call the Minnesota Department of Revenue at 651-556-3000 for help.

How can I make a claim?

Refunds vary for each individual or household in the tax year 2021 based on their adjusted gross income (AGI). Eligible individuals with an annual gross income of $75,000 or less received a $260 rebate.
Marriages who filed their taxes together and had an adjusted gross income below $150,000 were eligible for a $520 refund. Furthermore, qualified households received an additional $260 for each dependent, with a maximum of three dependents, for a total reimbursement of $1,300.

The rebate check is not taxable on your income tax return for Minnesota. However, it is subject to taxation on your federal tax return. Recipients will receive a Form 1099-MISC to report the refund as taxable income on their federal tax return for 2023.

When the Internal Revenue Service (IRS) ruled that payments did not mean the minimum amount needed for pandemic relief, homeowners claimed that they will still owe between $26 and $57 in federal taxes. This has also generated critique, since locals have stated that they will still owe between these amounts.