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Nearly $3B being returned to Mass. taxpayers. Here’s a tool to estimate your refund

BOSTON — Massachusetts plans to return nearly $3 billion in excess revenue to millions of taxpayers this fall, Gov. Baker announced last week.

State law requires that when tax revenue collections in a given fiscal year exceed an annual tax revenue cap, the excess revenue is returned to taxpayers.

Auditor Suzanne Bump Bump determined that the fiscal 2022 Massachusetts tax revenue was at $38,871,154,627 and that the state government collected $41,812,654,35, leading to an overage of $2,941,499,731.

Daniel Winslow, the president of the New England Legal Foundation, told Boston 25 News he was ready to get involved if the state didnt return the tax money.

“There’s just no shortage of tax money,” said Winslow. “We’re rolling in the dough in Massachusetts. The government followed the law. We were concerned and we were ready to assist as counsel to sue to enforce the law

Beginning in November, $2.941 billion in refunds will be distributed to about 3.6 million eligible taxpayers in proportion to personal income tax liability in Massachusetts incurred by taxpayers in the immediately preceding taxable year 2021.

The state has made a refund estimator available. Those looking to calculate their refund will need to have their 2021 Tax return available to answer six questions.

Eligible taxpayers will receive a credit in the form of a refund that is approximately 13% of their Massachusetts Tax Year 2021 personal income tax liability. The state noted that this percentage is a preliminary estimate and will be finalized in late October, after all 2021 tax returns are filed.

In order to qualify for a credit, residents must have filed a 2021 state tax return on or before October 17, 2022. Credit may be reduced due to refund intercepts, including for unpaid taxes, unpaid child support, and certain other debt.

“I thought ‘well I better file my taxes,’“ said citizen Cici Vantine. “We filed an extension and now I’m like we got to get them in before October in order to make sure we benefit.”

Those who are eligible for a refund will receive it automatically as a check sent through the mail or through direct deposit.

A call center will also be available to answer questions about 62F refunds beginning Tuesday, September 20, 2022 at 877-677-9727 and will be open Monday through Friday, 9am-4pm. The call center will not be able to provide exact refund amounts – however, the estimator on the FAQs page can help individuals calculate a preliminary estimate.

To view a list of frequently asked questions, click here.

This is a developing story. Check back for updates as more information becomes available.

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