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$1,500 Max Rebate: Arizona Families Anticipate Governor Hobbs’ 2023 Budget Families Tax Rebate

(photo: KNAU)

Arizona Families Anticipate Governor Hobbs’ 2023 Budget Families Tax Rebate

Eligibility and Amount Details

Arizona families are looking forward to Governor Hobbs’ one-time Families Tax Rebate, part of the 2023 budget. To qualify, residents must have filed a full-year personal income tax return for 2021, claimed at least one dependent tax credit, and had at least $1 in Arizona personal income tax liability in 2019, 2020, or 2021. Reported by Marca.

The rebate amount is determined by the number and age of dependents claimed on the 2021 tax return. Recipients will receive $250 per dependent under 17 and $100 per dependent aged 17 or older with caps of $750 for certain filing statuses and $1,500 for joint filers with a maximum of three dependents.

READ ALSO: $266 Billion Tax Refunds, $2,812 Average Refund, And 186% Gains: Why Nvidia’s Explosive Growth Is A Lesson In Strategic Investing – What You Need To Know!

(photo: Greater Phoenix In Business Magazine)

Easy Rebate Claim Process: Arizona’s Official Portal and Tax Reporting Details

Claiming the rebate is simple through the official portal at Eligibility, status tracking, filing, and address updates can all be handled there. While the rebate isn’t taxed in Arizona, it must be reported in federal income tax returns as part of adjusted gross income, with ADOR issuing a Form 1099-MISC. Direct deposit recipients from 2021 or 2022 filings will get their rebate that way, while others will receive a paper check. Processing times vary, but families should anticipate receiving their support shortly.

READ ALSO: Arkansas Sees $6.149 Billion Surplus In May Revenue Report: Governor Eyes Phasing Out Income Tax Amidst Robust Fiscal Health!

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