Stimulus Check Update: Residents in One State Will Receive $260 Next Week: Hundreds of thousands of Minnesota residents will see a rebate check for $260 come their way next week.
The state is reissuing a third round of tax rebates for 128,000 recipients who never cashed their original checks.
The Minnesota Department of Revenue originally sent the $260 rebates out months ago, but not all recipients deposited the money within the 60-day window before the check became void.
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“The state had a bit of a surplus and decided to give it back to taxpayers,” Michael Ryan, a finance expert and the founder of michaelryanmoney.com, told Newsweek. “These reissued checks are a nice little financial cushion for people, especially when the budget’s tight and every penny counts.”
“It looks like a regular Minnesota check,” Revenue Commissioner Paul Marquart told the Senate Taxes Committee, as reported by MPR News. “So on that one, you have two years to cash it. And after two years if it’s not cashed, it’s sent to unclaimed property.”
The state originally approved the payments as part of a $1 billion program, and the remaining payments make up $48 million of all checks.
“The good news is that Minnesotans who accidentally discarded their checks will have another chance to receive them,” Matt Stratman, the president of UnitedTax.AI, told Newsweek.
However, just because the state issued the checks again doesn’t mean you shouldn’t keep your eye out for the payments and file them as soon as possible.
“It’s essential not to let your rebate check expire for the second time,” Stratman said. “If these checks remain unclaimed, the Minnesota Department of Revenue states that they will eventually be transferred to the Minnesota Department of Commerce’s Unclaimed Property Division.”
Since Minnesota approved the rebates, they haven’t been immune to criticism.
Residents are especially upset that the rebate means recipients owe between $26 and $57 on federal taxes. This amount was decided on after the IRS ruled that the payments didn’t qualify as pandemic aid due to how much time had passed since the pandemic.
“I can say it was a big disappointment,” Marquart said previously. “We’ve got a good working relationship with the IRS…but we grudgingly accept the decision, of course.”
To file your 2023 income taxes with the rebate amount, taxpayers should use the 1099 form they received.
If you still haven’t received your rebate by May 1 but were eligible, Minnesotans can contact the department at 651-556-3000.
Other State Rebates
Several other states have built their own rebate programs after the federal government ended its
Alabama, which sent out a $300 check to joint filers last year, spent $393 million on the refunds, with the checks coming fully from a $2.8 billion surplus in the Education Trust Fund. The payments are intended to help residents offset grocery taxes paid throughout the year.
In Arizona, taxpayers with dependents earned tax refunds in November, but the amount varied depending on how many children or dependents were listed.
For children under 17, the amount was $250 per person, with a limit of $750 for three dependents. For dependents over 18, the payment was lowered to $100 each.
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