‘If you don’t pay any (income) tax, you get no refund,’ said House Ways and Means chairman Shaw Blackmon, R-Bonaire, whose committee dealt with the bill in the House. .
Or, if you paid $100 in taxes, that would be your refund.
Some seniors find they won’t get the tax refund because other state exemptions mean they didn’t pay state income tax.
For example, under Georgia law, taxpayers between the ages of 62 and 64 can exclude up to $35,000 of their retirement income — from pensions or investments — on their state return. Taxpayers age 65 or older can exclude up to $65,000 per person from their returns. Social security benefits are also not taxed.
Blackmon said he doesn’t recall lawmakers talking about the law’s impact on Georgians exempt from income tax, though there were discussions about giving a refund extra for families with children.
Sandra Walden, 78, of Buford, said in an email to The Atlanta Journal-Constitution that the reimbursement was of no help to many seniors.
“We have to buy goods, food, gas and whatever else we might need and we pay a pretty penny in sales tax,” Walden said. “So somehow we continue to pay taxes to Georgian citizens who have lived in Georgia all our lives.”
The governor’s office said it heard from Georgians not receiving checks. But most of these messages are either from Georgians who aren’t eligible, or from those who got their refund via direct deposit and didn’t notice it in their accounts.
More than 2.6 million refunds have been issued, he said. This reached more than 90% of those eligible for refunds who filed returns. If someone who is eligible hasn’t received the refund, the governor’s office said, it’s likely because they either applied for a tax return extension or filed a late return that’s still pending. treatment.
More than a dozen states across the United States use surplus income money to provide tax refunds. Much of the excess money is due to a huge increase in federal support for families after the onset of the COVID-19 pandemic.
The issue of refunds resurfaced recently after Kemp and the Department of Revenue announced that state tax collection ended fiscal year 2022 on June 30 more than $6 billion ahead of tax. ‘last year. That likely means another record surplus for the state.
Kemp’s opponent when he ran for re-election in November, Democratic candidate Stacey Abrams, immediately called for a similar new $1 billion income tax refund, which would go to Georgian households earning less than 250 000 dollars per year. That’s about 95% of income tax filers in the state.
Abrams’ campaign used the same estimates as Kemp to determine the cost of reimbursement, so it’s unclear whether seniors who missed out this time would get reimbursement under his plan.