Brian Kemp, the governor of Georgia, on Wednesday, approved a Tax Refund bill that will refund state income taxes.
Georgians who filed forms for both the 2021 and 2022 tax years would be eligible for a special state income tax refund under the income tax refund bill, HB 162. According to the press release, the one-time tax relief is included in the budget for AFY 2023. It is intended to refund over $1 billion in surplus funds to the taxpayers. Although some in Washington, D.C., are demanding tax increases, the governor of Georgia, Brian Kemp, announced that “we are bringing money back to working Georgians.”
New Tax Refund Bill For Georgia Residents
Furthermore, although they want to grow the government, we are expanding opportunities. The previous year, we returned more than a billion dollars to the state’s taxpayers.
I am happy to report that we will be performing it once more this year. Thank you to the General Assembly members who supported our proposal to assist Georgian families who are struggling with a 40-year high inflation rate.
The Department of Revenue (DOR) is expected to begin providing special income tax refunds in six to eight weeks. According to the notice, taxpayers must file their 2021 and 2022 taxes before they may receive their refund. For taxpayers who file by April 18 or earlier, DOR will begin disbursing refunds by July 1. According to the press release, married individuals filing jointly may receive a maximum refund of $500, head of household filers may receive a total return of $375, and solo tax filers may receive a maximum refund of $250, based on an individual’s or couple’s tax due.
A FAQ page on the tax refund for this year will soon be accessible on the DOR website. Soon, a new feature on the DOR website will enable Georgia taxpayers to keep track of the accuracy of their special tax returns. In six to eight weeks, it is expected to go live.