South Carolina taxpayers have a new payment option to receive state tax refunds
Update: A PDF file has been released with details of the South Carolina tax refund prepaid debit card program. Please click on this link for details.
South Carolina taxpayers will have the option of receiving state tax refunds via a debit card beginning this tax season.
Now you will be able to choose from 3 different options when the state owes you a refund; the debit, a direct deposit into your bank account and the ever popular paper check. You will need to indicate your preference on the SC1040. Tax returns which do not select a method of payment will automatically be defaulted to the debit card which is more cost effective for the South Carolina Department of Revenue.
The debit card will be issued by Bank of America and will have the potential to incur user fees which will be paid out of your refund. However, if you use a Bank of America ATM to withdraw all of your cash in a limited number of transactions you will not be charged any fees.
We will post additional information about this as it becomes available.