Call Customer Service Toll Free: 855-688-0324

Client Portal

Pay Your Bill

Bill.com Login

Client Help Desk & Knowledge Base

ATTENTION: Beware Suspicious Email Sent to PWCPA PC (Read more)

MASS Chapter 62F Refund – How Will This Affect You?

by | Oct 11, 2022 | Uncategorized

Please Read This Important Notice About 62F Before We Begin:

As your tax preparer, we cannot help to determine how much you will be receiving in your 62F refund, or how quickly you will be receiving this refund. We have no process for expediting your 62F refund. All of this is outside of our purview, and not something that we can control, or provide answers on. We do not file these refunds, and any useful information we have regarding 62F has been gathered and shared below for your reference.

If you have questions regarding your 62F refund, they should be directed to the State of MA 62F Call Center at 877-677-9727.

What is MA Chapter 62F And How Does It Affect Me?

  • Chapter 62F of the Massachusetts General Laws sets a cap on annual tax revenue collected by the state.For the Fiscal Year, 2022 (FY22) Massachusetts tax revenue collections exceeded this cap by $2.941 billion.  When this happens, Section 6 of Chapter 62F states:

If net state tax revenues in any fiscal year exceed allowable state tax revenues for said fiscal year the amount of such excess, as determined by the State Auditor and reported to the Commissioner under section five of this chapter, shall result in a credit equal to the total amount of such excess. The credit shall be applied to the then-current personal income tax liability of all taxpayers on a proportional basis to the personal income tax liability incurred by all taxpayers in the immediately preceding taxable year.

So, What Does This Mean For You?

  • In the coming months, eligible taxpayers (those MA residents and non-MA residents who paid MA personal income taxes for FY 2022, and filed their taxes before October 17, 2022) will receive refunds for a portion of their tax liabilities.
  • Additionally, non-residents on whose behalf a partnership files on a composite basis are eligible, and fiduciary filers (trusts and estates) are eligible.
  • The actual amount being refunded will be finalized after the October 17th extension deadline, but it is estimated to be equal to approximately 13% of their Massachusetts tax liability for the Tax Year 2021.
  • Some items that may affect the amount received are things such as unpaid tax liability, unpaid child support, and other debts.
  • To get a better idea of how much of a refund you can expect from your Chapter 62F payment, the state of Massachusetts has set up this calculator.


How And When Will I Receive My Refund?

  • Refunds will be received via check or direct deposit and are expected to begin distribution in November.

 

What Do I Have To Do To Receive My Refund?

  • Nothing. There is no action required on your part to receive this tax refund.

 

Where Can I Find More Info About 62F?

  • All questions about 62F are to be directed to the State of MA 62F Call Center. They are available to answer 62F refund questions at 877-677-9727 Monday through Friday from 9 am – 4 pm.

 

Please note that the exact refund amount for each eligible taxpayer will be determined as refunds are processed, so the call center will not be able to provide your refund amount until after it has been issued.

Additional answers to 62F FAQs can be found here.