How Much Money Will You Be Getting Back From The State of Montana

It's true, the Montana Department of Revenue will begin sending out rebate checks to those that paid state income taxes in 2021. If you paid $1250 or more in state taxes in 2021 you will get a check for $1250. If you paid taxes but the amount was less than $1250 you will get that amount back. (example: Bob paid $935 in state taxes in 2021. This means Bob will get a check for $935.) To see how much you paid just check line 20 on your 2021 state return. There are some catches.

You qualify for a rebate check if:

1. You were a resident of Montana for the entire 2021 tax year.

2. You filed at least a part year resident return in 2020.

3. All returns must have been filed on time and that includes extensions.

4. You are also eligible if line 20 on your 2021 return shows an amount greater than zero.

What about married filing jointly?

If you filed jointly and you paid $2500 or more in state taxes you will get a check for $2500. If you paid less than $2500 jointly, you will get that amount back.

You will not have to do anything to get your rebate. The state already has your info and will begin mailing out the checks in July. And the checks will be sent based on when you filed your return for 2021. (Example: if you filed your return in February, you will get your return before someone that filed in March.) All rebates will be sent out by December 31st.

How will you get the check?

You will get the money either through direct deposit or through a paper check in the mail. This is all based on how you requested during your last filing. If you owed, it will most likely come to you in the mail.

Here are the things that will prevent you from getting a check?

1. If you owe money to the state right now, your rebate will first go to that outstanding obligation. Any remaining amount will be sent you.

2. If you worked all of 2021 in Montana but filed in another state you are not eligible for the rebate.

3. If you filed an amended 2021 Montana Form 2 on or before May 1, 2023, your rebate is based on the amount of taxes reported on line 20 of your amended 2021 Montana Form 2. If you amended your 2021 Montana Form 2 after May 1, 2023, your rebate is based on the amount of taxes reported on line 20 of your 2021 Montana Form 2 as of May 1, 2023. If you amend your 2021 Montana Form 2 after you receive your rebate, you must report the rebate as a payment made with your original return.

The rebate will not be subject to Montana income tax. The IRS is reviewing for federal taxes and does not have an answer yet.

Starting in October the state will begin sending out property tax rebate checks in the amount of $500. If you own a home in Montana and it was your primary residence you will get one check for $500 this year and another check for the same amount the following year.

There is a catch on the property tax rebate, you will have to go to the Montana Department of Revenue website starting on August 15th and fill out a quick form to get that $500 check.

The money is coming from a 1.5 billion dollar surplus. Legislators and the governor agreed that most of the money should go back to the taxpayers.