Boston Globe: "Billions in state tax refunds to start flowing to taxpayers on Tuesday, officials say"

"THE FIRST CHECKS and direct deposits from a nearly $3 billion pot of excess tax revenue will head back to taxpayers starting on Tuesday when the calendar flips to November, the Baker administration announced Friday.

A spokesperson for the Executive Office of Administration and Finance said money will head out the door under the voter-approved tax cap law known as Chapter 62F, which taxpayers triggered for the first time since 1987 by delivering massive amounts of taxes.

About 3 million taxpayers will receive a refund in the form of a mailed check or a direct deposit worth about 14 percent of what they owed in state personal income tax in 2021, the spokesperson said. The administration plans to distribute the refunds on a rolling basis through December 15. The administration had previously estimated refunds of about 13 percent of income tax liabilities."

Continue reading the article online -> 

https://commonwealthmagazine.org/state-government/3b-in-tax-cap-checks-to-start-going-out-tuesday/

Boston Globe coverage ->  (subscription maybe required)

https://www.bostonglobe.com/2022/10/28/metro/billions-state-tax-refunds-start-flowing-taxpayers-tuesday-officials-say/

 

Eligible taxpayers will receive their refunds on a rolling basis, Governor Charlie Baker’s office said. LUKE SHARRETT/BLOOMBERG