Chapter 62F Taxpayer Refunds
“Massachusetts law requires that when tax revenue collections in a given fiscal year exceed an annual tax revenue cap, the excess revenue is return to taxpayers.”
For Fiscal year 2022, MA tax revenue collections exceeded the annual tax revenue cap by $2.941 billion. The gist of it is that Massachusetts residents will get to enjoy roughly an additional 13% refund of their tax liability for 2021. MA Department of Revenue is anticipating that they will be issuing refunds electronically or paper checks starting in November 2022.
Fun Facts: Chapter 62F was a ballot question in 1986 that was placed into law. The first time it was invoked was 1987. This is the second time that MA Department of Revenue has placed this piece of legislation in action. (So don’t forget to go out and vote on November 8, 2022. Every vote counts!)
Conditions for eligibility:
- You must have filed a 2021 state tax return on or before October 17, 2022.
- Credits may be reduced due to:
- refund intercepts
- unpaid tax liability
- unpaid child support
- certain other debts
MA Department of Revenue has provided a Refund Estimator that can help you calculate your potential extra refund. More information about Chapter 62F can be found here.
