More than half, 52 percent, or $52 million of the $100 million Citizens Assessment for 2008 remains unclaimed, the news release stated.
Property owners having property and casualty insurance during any of the last four years should also claim the rebate for the Citizens Assessment charged on their property insurance policy. Currently, more than $287 million or 61 percent of the total rebate amount available for 2008 through 2012 is unclaimed.
“It’s a simple process,” Donelon said. “Just fill out the Louisiana Department of Revenue R-540INS tax form for the year in which you paid the Citizens Assessment and mail it in with your insurance declaration page showing the assessment has been included in the insurance premium. It takes only a few minutes to fill out the very short form.”
Policyholders can also visit www.revenue.louisiana.gov/fileonline, register as a user, and follow the links to LDR’s new web application designed to help individuals claim their Citizens rebate. Policyholders can choose to receive the rebate by direct deposit, paper check or a pre-loaded debit card. Individual policyholders may also claim the rebate by amending a prior-year tax return.
Businesses may claim the Citizens Rebate only by filing Department of Revenue Form R-620INS or by filing a current-year or amended tax return. A copy of the insurance policy declaration page showing proof of the assessment amount must be attached to any claim form.
Policyholders can choose to claim the rebate as soon as they pay the insurance premium that includes the Citizens Assessment or when filing their Louisiana state income tax return. Be careful not to claim the rebate on both the INS form and the tax return since this will delay your refund. The revenue department statement reminds taxpayers not to claim the total insurance premium, only the Citizens Assessment. Claiming the total premium will delay the processing of the refund as well.
Also recommended is that those who pay the Citizens Assessment on more than one property send in a single INS form for all properties each year rather than a separate INS form for each property. An R-INS Supplement form should be used for more than one property. Otherwise the second claim will automatically be delayed for review.