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

• 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."