The South Carolina Department of Revenue will be sending a one-time cash tax rebate to qualified South Carolina residents later this year after state officials allocated $1 billion to be returned to taxpayers.
The department said it is finalizing how much each resident will get, but it is expected to be as high as $800 if enough money is available after the final tax returns are filed by Oct. 17. The rebates will be deposited directly into the accounts of the nearly 80% of taxpayers who selected the option, the department said.
Nearly 1.5 million filers could receive the rebates, according to the outlet, with the size of each rebate depending on the filer’s 2021 income tax liability.The state did a similar cash rebate in 2019, sending $50 checks to more than 2.5 million residents. The funds in 2019 came from a state lottery winner and cost the state $700,000 for postage. Because the checks were delivered via mail, 68,000 of the checks were not cashed.
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