Hundreds of thousands of Minnesota residents are set to receive a $260 rebate check next week, as the state reissues a third round of tax rebates for 128,000 individuals who did not cash their original checks. The rebates were initially issued months ago, but some recipients failed to deposit the money within the 60-day window, leading to the issuance of the checks. Finance expert Michael Ryan highlighted the significance of these rebates, especially during financially challenging times.
To avoid confusion, the Department of Revenue has ensured that the new round of payments is clearly marked as originating from the state agency. Individuals have two years to cash the checks, after which unclaimed funds will be transferred to the Minnesota Department of Commerce’s Unclaimed Property Division.
Taxpayers should use the 1099 form to file their 2023 income taxes with the rebate amount. If eligible individuals have not received their rebate by May 1, they are advised to contact the department at 651-556-3000 for further assistance. The issuance of these rebate checks showcases the state’s commitment to supporting its residents, especially those facing financial difficulties. It is crucial for recipients to be aware of the deadline to cash their checks and to ensure they do so within the two-year timeframe specified by the Department of Revenue. Additionally, the clear identification of these payments as state-originated will help prevent any confusion among recipients.