Family Tax Rebate: Projecting the Likely Arrival Date of Your Payment
Arizona families are poised to experience a welcomed financial boost courtesy of a novel tax initiative embedded in the state’s budget. The Arizona Families Tax Rebate is set to furnish eligible families with rebates of up to $750. This rebate essentially constitutes a one-time child tax rebate thoughtfully devised to alleviate the financial burdens imposed by surging inflation on Arizonians.
State authorities estimate that approximately 740,000 taxpayers in Arizona could stand to benefit from these payments. To qualify for the rebate, individuals must be year-round residents of Arizona and have claimed the state’s tax credit for dependents on their 2021 tax returns. Moreover, they must have owed at least $1 in taxes during any one of the years 2019, 2020, or 2021. To streamline the process, the state will utilize recent tax data to identify eligible Arizona residents, obviating the need for residents to submit rebate applications.
Eligible taxpayers can receive the rebate for up to three dependents. For each dependent under 17 years old, the rebate amounts to $250 per dependent. In the case of dependents aged 17 and older, the rebate stands at $100. Consequently, families with multiple dependents may find themselves eligible for rebates totaling as much as $750.
The Arizona Department of Revenue is anticipated to commence the distribution of these rebates by November 15, 2023. Eligible families will have the rebate funds delivered either through direct deposit or via traditional paper checks sent by mail. This initiative aims to provide much-needed financial relief to Arizona families grappling with the challenges posed by rising living costs and inflation pressures.