Bonus Rebate From Pennsylvania: Here\u2019s How to Claim This One-Time Rebate
Some Pennsylvanian’s could soon get a bonus rebate of up to $650. This bonus rebate from Pennsylvania will go to residents who are approved for the standard rebate on property taxes or rent paid in 2021. Detailed below is everything you need to know about how to claim the bonus rebate from Pennsylvania.
Who Qualifies For The Rebate?
Pennsylvania came up with this program to help older and disabled residents offset the rising cost of housing. The bonus property rebate checks will go to residents who are 65 or older, or receive disability benefits, and paid rent or property taxes last year.
Also, residents need to meet the income requirements to qualify for the rebate. For instance, the income limit is $35,000 per household for homeowners and $15,000 per household for renters. For the purpose of the rebate, only half of Social Security benefits are counted toward the income cap.
Additionally, a widow or widower over the age of 50 could also qualify for the bonus rebate from Pennsylvania. For more information on the eligibility requirements, visit the state’s Department of Revenue website.
It must be noted that the income cap doesn’t change depending on the number of people in a household. For married people who live together, their combined income needs to be at or below the income threshold to qualify for the rebate.
Bonus Rebate From Pennsylvania – How To Claim It
If you have already filed your rebate application for the 2021 claim year, you don’t need to take any further action to get the bonus rebate from Pennsylvania. The Department of Revenue will send the rebate money through the same method in which the taxpayer opted to receive their original rebate.
Those who are eligible for the rebate but haven’t yet filed their 2021 claims, still have time to do so. The deadline to apply for the rebate on rent and property taxes paid in 2021 has been extended to Dec. 31, 2022.
Such people can apply for the rebate online through myPATH, which is the Department of Revenue’s online filing system. Another option is filing a paper application. Instructions for paper application are available at this link. The department, however, recommends eligible claimants use myPATH to claim their bonus rebate from Pennsylvania.
According to the department, the rebate amount equals 70% of the original rebate amount, subject to a maximum standard rebate of $650 for non-homeowners. This means a claimant who received the maximum standard rebate of $650 for the 2021 claim year will qualify for the bonus rebate of $455 (70% of the original rebate).
Separately, certain qualifying homeowners may receive a supplemental rebate that could raise their total original rebate to up to $975. So, if the claimant received the $975 maximum rebate for the 2021 claim year, then their bonus rebate will be $682.50 (70% of the original rebate).
This article originally appeared on ValueWalk
Sponsored: Tips for Investing
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Source: Read Full Article