Starting in November, 2022 the state of South Carolina issued the first round of income tax rebates to South Carolina residents who filed a 2021 individual income tax return (Form SC1040) by October 17, 2022.
The rebate checks are calculated based on the taxpayer's 2021 SC return tax liability with a maximum rebate of $800. The state is disbursing the rebates in the same way as the payment information on the original return. Thus, if the taxpayer utilized a bank product to facilitate their refund, the rebate will be issued in the same manner. The issuing bank will also deduct its usual and customary disbursement fee.
Here are specific instructions for the different banks:
- EPS and Refund Advantage - EROs can print and mail checks to their clients for any federal or state fundings received through November 30, 2022. Beginning December 1, the bank will print any remaining unprinted checks as well as checks for any subsequent fundings.
- Santa Barbara TPG - EROs will not receive these fundings and will not need to print the checks. Santa Barbara TPG will print the checks and mail them directly to the taxpayer.
View details about the South Carolina Income Tax Rebates here.
Taxpayers filing their 2021 tax return on extension who weren't able to file by October 17 due to Hurricane Ivan will remain eligible for the rebate if they file on or before February 15, 2023, and their rebate, if any, will be issued in March, 2023.