DrunicusrexXIII t1_iueeoq9 wrote on October 30, 2022 at 6:23 PM

Reply to comment by DrunicusrexXIII in Mass. Tax Refunds Will Start To Flow On Tuesday by husky5050

Found it. Looks like we can have a decent Christmas after all this year. Tears of joy, we were due for a break.

krazieme t1_iugy1ao wrote on October 31, 2022 at 6:44 AM

I’m in your initial boat . Out of the loop what’s going on ?

DrunicusrexXIII t1_iuhpk1w wrote on October 31, 2022 at 12:47 PM

The article in the OP explains, & has links to mass dot gov. Because MA received huge tax payments - overpayments, legally - a law from decades ago was triggered that returns money to MA taxpayers.

Most of us pay i think a flat 5%. So if you paid 5k on an income of 100k (which is really a working middle class income in this area) you'd get about 14% of that $5k you paid back, or around $700. There's a calculator at the mass dot gov site.

It will either come as a check in the mail or as direct deposit, starting in a few days.

The economist in me thinks this will be mildly inflationary, but the working parent in me is breathing a sigh of relief, albeit temporarily. Most of my expenses, primarily food and fuel, went way up by at least 20%, and it's getting harder and harder to cover all our bills.