South Carolina taxpayers who filed 2021 tax returns by Oct. 17 can expect an $800 tax rebate to hit their wallets later this month.
The first round of the $800 rebate has already been released, and residents will obtain the money through direct deposit or as a check in the mail. Additional checks will be stretched out across December. Those who have not filed their 2021 taxes can still receive the rebate if filed by Feb. 15, but they would not receive the check until March 2023.
MOMS FOR LIBERTY SCHOOL BOARD MEMBERS FIRE SUPERINTENDENT AFTER WINNING ELECTION: 'EXPECT TO SEE MORE' The exact amount each taxpayer receives depends on their 2021 tax liability, with a maximum of $800. Tax liability is defined by the South Carolina Department of Revenue as"what's left after subtracting your credits from the Individual Income Tax that you owe."
To calculate a rebate total, people only need to examine their SC1040 form. If there is no amount on line 10, they can add the totals of lines 21 and 22 and subtract that amount from line 15. The remaining amount, up to $800, will be received.Taxpayers with outstanding taxes will not receive the full rebate, with the outstanding amount being subtracted from the total. Those whom this affects will receive a Notice of Individual Income Tax Rebate Adjustment from the department.
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