As the end of the month approaches and you eagerly await those W-2 forms, it may be wise to postpone filing your state income tax returns for a while. This year, West Virginia residents could receive a significant tax break when filing.
However, you must wait for specific documentation to arrive in your mailbox before proceeding. Cabell County Assessor Irv Johnson emphasizes that certain items, such as boats and campers, are ineligible for the tax credit.
“The key point is that you must have made your payments on time,” Johnson stated. “If you paid late, unfortunately, you won’t qualify for the rebate.”
Understanding the Rebate Program
Johnson emphasizes the importance of waiting until you receive a letter from the West Virginia Tax Division before filing your state income taxes. “The best part is that we are receiving our money back. “It’s a significant tax break for West Virginians,” Johnson explained.
“The disadvantage is the paperwork required. You’ve already paid your dues, and you need to wait for the state’s letter before filing it with your income tax. Essentially, you have to pay it up front to receive it back.”
Discover how you can take advantage of a groundbreaking rebate program that provides a dollar-for-dollar match on eligible vehicles such as cars, trucks, and motorcycles. This is an exciting opportunity to reduce your financial burden while remaining compliant with state tax laws.
Timing is Key: Plan Ahead
According to Johnson, this rebate serves as a credit against your state tax. If you owe taxes, this credit will directly offset the amount, resulting in significant savings.
Johnson emphasizes the value of timing in this program. If you missed the deadline in 2024, make sure to correct it in 2025 so you can claim the credit in 2026.
Johnson says, “Let’s learn from our mistakes and get back on track for 2025, because you’re about to receive the taxes you paid back in 2024. If you do not pay on time, you will be ineligible.
Because this is a new initiative, Johnson recommends patience. The program is still in development, and there may be additional communications about other vehicles, such as ATVs.
If you have any questions or need further clarification, Johnson recommends contacting the state. Their contact information will be included in the letter you receive through the mail.
