ATLANTA — The Georgia Department of Revenue appears to be "on track" to meet its goal of having most of the highly-anticipated Georgia surplus tax refund checks out to recipients by the end of the month.
The news comes in an update provided by the Georgia DOR on Tuesday.
According to the department, as of June 15, 2.75 million Georgia taxpayers have received nearly $856.5 million, with $90 million still left to be released in the coming days to those who qualify.
Why are we getting the tax refund check payments?
Georgia had a very large budget surplus, of which $1 billion the governor and legislature decided to return to taxpayers in the form of these payments.
Gov. Brian Kemp signed the bill into law in March, allowing the Department of Revenue to disburse the round of payments, replicating the ones that went to taxpayers last year in the form of a tax refund.
They're structured just like last year, which is as follows:
- $500 for married couples filing jointly
- $375 for single filers with dependents
- $250 for single filers
Who was eligible for the Georgia tax refund checks?
Georgia workers who paid state income tax in 2021 and 2022 will be eligible. Taxpayers must have filed by the deadline of April 18 (the same deadline as federal Tax Day) to ensure they would get the newest payment.
The plan was to have most of the payments issued by July 1.
What if I haven't received my payment yet?
11Alive financial expert Andrew Poulos said that if you still haven’t received your refund, don't worry, yet.
"It does appear that everything’s going on track," he said.
Poulos said for those who filed their taxes by the April 15 deadline but are still waiting, "I'd give it a couple more weeks," he advised.
"The Department of Revenue is processing tax returns first and foremost," he added. "That's the first priority. Then they issue the budget surplus checks to those who qualify."
What if I filed an extension?
The Department of Revenue said an estimated 1.1 million Georgia taxpayers filed their taxes on extension. Those taxpayers, if eligible to receive the payments, can't receive a check until they have filed their returns.
"You’re likely not going to see the additional refund until after that is processed, which could be late October, sometime in November, perhaps even extending out to December," Poulos explained.
Who is not eligible for a tax refund check?
Having said that, Poulos added its important to note that not everybody qualifies for a portion of the budget surplus checks.
“If you file a tax return and on your state return you have zero tax liability, then you will not receive any refund," he explained. "And you cannot receive more than your tax liability. For example, if you're a single taxpayer, the maximum you can receive is $250, but let's just say that your Georgia tax liability is $100. Your budget surplus refund check is going to be $100. So it cannot exceed what your liability is.”
Poulos adds that if you have not filed your 2021 tax return, you won't be qualified, either.
For more information, click here.