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Tax Refund: $600 may be going out to some Americans

Those paying taxes in Virginia may be lucky enough to soon see tax refund payments worth $600.

cash that state residents could see in their tax refund

This will be a one time payment in the form of a tax rebate.

The proposal has not yet passed, but is supported by Virginia state governor Glenn Youngkin.

The goal is to help residents that need it the most due to the higher cost of living plaguing the nation.

The Virginia General Assembly is expected to pass the bill, but they need to agree on the amount and when it will go out.

IRS: How to claim the American Opportunity Tax Credit

How much could people see in their tax refund?

There are two different proposals that could pass.

The first is $300 for single taxpayers and $600 for married couples, suggested by the House.

The Senate suggests $250 for singles and $500 for married couples.

The vote is expected to happen in April.

IRS: Filing an extension for your tax return

Who can see the tax refund?

In order to be considered at all, your tax return needs to be filed for 2021 by Nov. 1, 2022.

There may be a chance you see less money due to deductions or credits.

The decision on how to send it is still being made.

It will be either a mailed check or direct deposit.

Payments are expected to show up between July and Nov. of this year once it’s approved.

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