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Tax Refund: $500 extra dollars in this state

Some state residents may see an extra $500 in their tax refund this year thanks to a new state proposal.

cash sitting on a marble table top representing a tax refund

The governor of Georgia, Brian Kemp, would like to take money from the state surplus and give it to Georgian residents.

The credit would be worth $250 to $500.

While this could help a lot of struggling residents, not everyone is in favor of the proposal.

Many feel that following cuts in both health services and education, this is simply a ploy to boost popularity for the election, according to The Sun.

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The tax credit for Georgia residents

Single tax filers would see $250 while joint filers could see $500.

The $1.6 billion would come out of the $2.2 billion dollar surplus Georgia racked up in 2021.

The fiscal budget was cut in 2021 out of fear of revenue falling during the pandemic, but that did not appear to be the case.

The education budget was restored.

The extra money will now hopefully be earmarked for 2022 tax refunds.

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Are these tax refunds actually happening?

The governor has stated that anyone filing their taxes on or before the April 18 deadline will see the refund.

While this would be ideal, it is not yet a guarantee.

In order for the refund to be approved, the General Assembly needs to vote on it first.

While lawmakers aren’t against funding going back to taxpayers, their first concern in making sure programs are still underfunded due to COVID-19.

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