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Tax season may be over, but Georgians are getting a bonus this year. Governor Brian Kemp signed HB 112 into law on April 15, 2024, introducing a one-time tax credit known as the Georgia Surplus Tax Refund. The governor expressed his enthusiasm for returning funds to hardworking Georgians with this surplus tax refund, ensuring that money returns where it belongs.
How Much is the Georgia Surplus Tax Refund?
Depending on your filing status and tax liability, the Georgia Surplus Tax Refund can be as much as $500. Here’s a breakdown of the refund amounts:
- $250 if you are single or married filing separately.
- $375 if you are the head of household.
- $500 if you are married filing jointly.
Who is Eligible for the Georgia Surplus Tax Refund?
To qualify for this surplus tax refund, individuals must meet the following criteria:
- Filed an Individual Income Tax Return for tax years 2023 and 2024 by the May 1 deadline or by October 15 if you were granted an extension.
- Had a tax liability for 2023 (meaning you owed taxes for 2023).
- Are a Georgia resident, part-year resident, or nonresident.
How to Check if I’m Eligible for the Georgia Surplus Tax Refund?
You can check your eligibility through the Georgia Department of Revenue. However, the site only allows you to check eligibility for previous refunds. Once updated, you will need the following information to check your status:
- Your SSN or ITIN.
- Federal Adjusted Gross Income from your 2023 Georgia Individual Income Tax return (Form 500 – Line 16 or Form 500EZ – Line 4).
When Will I Get My Georgia Surplus Tax Refund?
The Georgia Department of Revenue advises that refunds will be issued within 6-8 weeks after processing the tax return. The payment method (either by mail or direct deposit) will depend on what you selected on your tax return.
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