South Carolina taxpayers are set to receive a direct tax rebate worth up to $800 in one day.
All taxpayers who filed their 2021 SC1040 tax forms before the Oct. 17 deadline are eligible and should receive their payment by New Year's Eve, the South Carolina Department of Revenue wrote. Married couples who filed jointly will only receive one rebate.The state's legislature directs around $1 billion a year to a rebate fund for taxpayers.
"From the Contingency Reserve Fund, there is appropriated one billion dollars to the Taxpayer Rebate Fund which is created in the State Treasury. The fund is separate and distinct from the general fund and all other funds of the State," the law reads. Not everyone will get an $800 rebate — those with a tax liability less than $800 will receive a smaller amount. Those with an outstanding individual income tax bill with the SCDOR will have that amount subtracted from the rebate amount but will be notified by the department in advance.South Carolina residents who missed the Oct. 17 deadline to file their 2021 individual tax returns are in luck, however, as an extended deadline has been set for Feb. 15, 2023.
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