$250 Rhode Island Child Tax Rebates Are On The Way. Here's How You Can Track Yours

(MENAFN- ValueWalk)
/ Pixabay

Some monetary relief is coming soon for Rhode Island residents. Earlier this week, Gov. Dan McKee announced that the state is now starting to send one-time Rhode Island child to eligible residents. Eligible households will get up to $250 per child for up to three children.

In a press on Monday, Gov. McKee announced that the state would start issuing Rhode Island child tax rebates to qualifying families beginning October 3. The authorities will continue to send the rebates to qualified households over the next several weeks.

Get The Full Henry Singleton Series in PDF

Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues

Hedge fund giant D.E. Shaw is on a roll. Its Composite Fund, the firm's flagship fund, generated an estimated net return of around 18.5% in 2021, only slightly lagging behind the 19.4% return recorded in 2020. According to Bloomberg, the fund is up a further 20.5% for the year to the end of August. The

“Our Administration is continuing to deliver relief to Rhode Islanders as we build on our state's economic momentum,” Governor McKee said in a statement.“The Child Tax Rebate Program allows us to distribute over $40 million in direct support specifically to middle and lower-income families with children.”

Taxpayers who filed their return in the spring are likely to get the payment sometime this month. Those who filed for an extension can expect the rebate by the end of the year.

Taxpayers can also track their rebate payment using this The Rhode Island Division of Taxation is administrating the rebate program and the payment is being sent in paper checks only.

Along with announcing the distribution of the rebate, McKee also denied the accusations that the timing of the rebate is politically motivated. Early voting for the November 8 general election begins October 19.

This rebate is part of the Fiscal Year 2023 budget that Governor McKee signed previously. Apart from the rebate, the budget makes significant investments to resolve the , as well as strengthen the local economy while offering monetary relief to families, veterans, and local businesses.

It is estimated that about 115,000 families will qualify for the Rhode Island child tax rebates. The rebate will go to individual filers with income up to $100,000 a year ($200,000 for joint filers). The rebate payment is estimated to cost the state about $40 million.

Payment will be sent automatically to residents who have at least one dependent child 18 years old or younger, have filed their state tax return and have met the income criteria. A point to note is that only children born before January 1 are eligible for the rebate.

Eligible families can claim the rebate for up to three children. The maximum that a family can get in the form of the rebate is $750. Even undocumented who have been paying Rhode Island taxes and have an ITIN (Individual Taxpayer Identification Number) number could get the rebate.

You can visit the Division of Taxation's to get more information on the one-time Rhode Island child tax credit. Also, residents can contact the Division's Personal Income Tax Section by emailing or by phone at 401-574-8242, for questions about the child tax rebate.

MENAFN07102022005205011743ID1104985704

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.