I've applied a few times so here is the typical chain of events in previous years:
January/February - application cycle opens
March/April - cycle closes
May/June - credit checks start (seems to only show up on Experian)
August/September - COI/awards
October - rejection letter
This year, though, the application cycle opened much earlier (December '21 I think!) and closed in February I believe. I had a credit check 3/17. So if they follow their usual timeline, we should start hearing by June? I'm just speculating here so who knows really.
As for the tax break, I think we're a long way away from getting it.
I should add, this info is all for the NC Loan Repayment, NOT the Scholarship (there's likely another thread for that!)