Bonus Discount From Pennsylvania: How To Claim This One Time Discount

Bonus Discount From Pennsylvania: How To Claim This One Time Discount
TBIT / Pixabay

Some Pennsylvanians could soon get a bonus rebate of up to $650. This bonus Pennsylvania rebate goes to residents eligible for the standard rebate on property taxes or rent paid in 2021. Below is everything you need to know to claim the Pennsylvania bonus rebate.

Who is entitled to the discount?

Pennsylvania created this program to help elderly and disabled residents offset rising housing costs. The bonus property rebate checks go to residents who are 65 years of age or older or are receiving disability benefits and have paid rent or property taxes in the past year.

Get the full Henry Singleton series in PDF

Get the entire 4 part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email it to your colleagues

Q3 2022 hedge fund letters, conferences and more

DG’s concentrated portfolio collapses -36.4% in a difficult year

Downturn 1652201477DG Value Partners’ Concentrated fund is up 8.4% in October, according to a copy of its latest investor update verified by ValueWalk. Following this performance, the fund is down -36.4% year-to-date compared to -16.9% for the Russell 2000 and -7.7% for the HFRI benchmark index. A focused portfolio by Read More

Additionally, residents must meet income requirements to qualify for the discount. For example, the income limit is $35,000 per household for homeowners and $15,000 per household for renters. For the discount, only half of the social security benefits are credited to the upper income limit.

In addition, a widow or widower over 50 could qualify for the Pennsylvania bonus rebate. For more information on eligibility requirements, visit the State Treasury Department’s website.

It should be noted that the upper income limit does not change depending on the number of people in a household. For married couples living together, the combined income must be equal to or below the income limit to be eligible for the discount.

Pennsylvania bonus rebate – how to claim it

If you have already submitted your 2021 claim year claim, you do not need to take any further action to receive your Pennsylvania Bonus Refund. The Treasury remits the rebate in the same manner that the taxpayer elected to receive their original rebate.

Those who are eligible for the rebate but have not yet submitted their 2021 applications still have time to do so. The deadline for applying for the rent and property tax refund paid in 2021 has been extended to December 31, 2022.

These individuals can apply for the rebate online through myPATH, the Treasury Department’s online submission system. Another option is to submit the application in paper form. Instructions for applying on paper can be found at this link. However, the department encourages eligible claimants to use myPATH to claim their Pennsylvania bonus rebate.

According to the ministry, the rebate amount is 70% of the original rebate amount, subject to a maximum standard rebate of $650 for non-owners. This means that an applicant who received the maximum standard rebate of $650 for claim year 2021 is eligible for the bonus rebate of $455 (70% of the original rebate).

Regardless, certain eligible homeowners may receive an additional rebate that could increase their original total rebate up to $975. So if the applicant received the maximum rebate of $975 for claim year 2021, their bonus rebate would be $682.50 (70% of the original rebate).