State: 40% of NE taxpayers leaving money on the table
At a time when plenty of folks are complaining about high gas prices and inflation, four out of every 10 Nebraska taxpayers have failed to claim tax dollars due them.
The numbers vary person-to-person but last year alone state officials say nearly $200 million dollars went unclaimed.
Today, Gov. Pete Ricketts, Revenue Chair State Sen. Lou Ann Linehan and Tax Commissioner Tony Fulton talked up the “Refundable Income Tax Credit," which is claimed when Nebraskans file their state income taxes.
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Tax Commissioner Tony Fulton: “This is such a significant amount of money, every Nebraskan should be aware of it.”
Gov. Pete Ricketts: Nebraska taxpayers, you’re going to get a 30 percent tax credit back on what you paid into your K-12 schools and community colleges, so please claim that tax credit next year when you file your Nebraska state income taxes.”
Tax Commissioner Fulton: You can file an amended return if you didn’t claim your refundable income tax credit. If you didn’t file your taxes—well, you should be filing your taxes—but up to three years back you can claim that credit.
The program, now in its third year, allows taxpayers to receive money back from the state, based on how much they pay in property taxes to their local school district.
For the tax year 2020 there’s a 6 percent credit, that jumped to 25 percent in 2021, and increases to 30 percent when you file your 2022 taxes next April.
According to state officials, it's not unusual for new tax programs to take a few years before all taxpayers are on board.