Jul 10, 2023 - Politics

Minnesota launches portal for bank, address updates ahead of fall taxpayer rebates

Illustration of a common loon sitting on a pile of cash.

Illustration: Brendan Lynch/Axios

The Minnesota Department of Revenue has launched an online portal for taxpayers who need to update their address or bank information in order to receive a rebate check this fall.

Catch up fast: An estimated 2.4 million Minnesotans are set to get one-time payments of at least $260 as part of the recently passed state budget.

  • Eligible married couples will get $520, with an additional $260 available for up to three dependents. The most a family can receive under the program is $1,300.

Of note: Income caps mean the payments go to individuals whose adjusted gross income on their 2021 tax return was $75,000 or less, and married couples who made $150,000 or less.

The big picture: Minnesotans do not need to apply for the payments, which were pitched as a way to deliver some of the state's surplus back to taxpayers.

  • The Department of Revenue will determine eligibility based on 2021 tax returns and send the rebate to the bank or address used at that time.

Yes, but: Anyone who has moved or changed banks since 2021 filings should update their information via the new portal by July 28.

What to expect: The depatment says the payments will be issued in "early fall."

avatar

Get more local stories in your inbox with Axios Twin Cities.

🌱

Support local journalism by becoming a member.

Learn more

More Twin Cities stories

Twin Citiespostcard

Get a free daily digest of the most important news in your backyard with Axios Twin Cities.

🌱

Support local journalism by becoming a member.

Learn more