Extensive Experience with IRS | Free Consultation | Tax Help for Individuals/Small Businesses

Idaho Tax Rebate

Author: Vilensky & Company, LLC |

It looks like the State of Idaho made a decision to pay back some of the hard earned money that Idahoans relinquished to the state by way of taxes.  The state did provide relief to taxpayers that owned and operated a business prior to the pandemic. It now looks like the state will focus on providing some relief to individual taxpayers as well.

The State of Idaho is rolling out what they call a 'Tax Rebate' credit starting August 2, 2021.  The rebate amount pays $50 per taxpayer and each dependent or 9% of the tax reported on the tax return; whichever is greater.  To qualify, you must have filed your 2019 AND 2020 tax returns with the state.  You must also have filed form 40 as a resident taxpayer. Part-year residents and nonresidents do not qualify for the credit.

Furthermore, the state will base the rebate amount based on your 2019 and 2020 returns. If your filing status changed between filings, the rebate amount will be adjusted based on the change. Rest assured, all taxpayers that qualify will receive their rebates. But, it may come in a form of two, separate checks.

For more information or a list of Q&A on this topic, see this link.