The federal government has no plans to issue stimulus checks in 2023. This implies that the fourth round of relief payments would require action from Congress.
The federal government has no plans to issue stimulus checks in 2023. This implies that the fourth round of relief payments would require action from Congress. (Photo: Yahoo News)
An Act Of Congress: Fourth Round of Relief Payments
Since lawmakers couldn’t pass stimulus legislation in 2022, the smart money would be against a divided government getting it done this year especially since the inflation rate is now falling.
With this in mind, there are still millions of Americans looking forward to stimulus payments or tax credits that their individual states are issuing to ease the burden of inflation.
You could have a check coming your way in the coming weeks and months depending on variables like where you live, what you earn, what you paid in taxes, and whether you own a home.
The federal government has no plans to issue stimulus checks in 2023. This implies that the fourth round of relief payments would require action from Congress. (Photo: Yahoo News)
Payments Are Still Trickling Into Several States
There are still six states issuing payments that are set to arrive in the coming months.
Alaska
The Permanent Dividend Fund (PDF) of Alaska pays most residents an annual check from a portion of the state’s oil revenues. While the fund isn’t directly tied to inflation, PDF payouts rose in 2022, right along with the prices Alaskans paid in stores.
The payments from the previous year jumped to $3,284 from $1,114. This is all thanks to increases in the price of oil. This amount included a $650 energy relief payment. It’s unclear if 2023’s PDF will be padded with another inflation-relief provision, but Alaska will pay unclaimed 2022 PDFs through March.
California
Many California residents who are eligible received inflation relief checks worth up to $1,050 in 2022, but there will be a continued releasing the remaining Middle-Class Tax Refund payments through mid-January. So far, California has paid out $8,793,299,700 to 30,612,921 families through 7,020,930 direct deposit payments and 9,112,953 debit cards.
Colorado
Colorado residents who filed their tax returns by June 30 received their $750 Colorado Cash Back payment in 2022 — $1,500 for couples. Those who filed by the Oct. 17 deadline extension will receive their payments by January 31.
Your payment is based either on your returns or the Property Tax/Rent/Heat Credit (PTC) Rebate application you filed in 2021.
Idaho
The Idaho Tax Commission expects to send 800,000 rebates worth $500 million to residents across the state by March 2023. The rebate, authorized through a special legislative session in September 2022, gives $300 to individuals and $600 to couples or 10% of the taxpayer’s income taxes for 2020, whichever is greater.
The state is sending out 75,000 payments a week to every Idaho citizen who lived there full-time in 2020 and 2021 and filed returns for both years.
New Jersey
Homeowners eligible for New Jersey’s ANCHOR program can expect checks worth up to $1,500. The property tax rebate applies to residents who owned a home in 2019, but the benefits also extend to renters, who are eligible to receive up to $450.
According to a published post by Yahoo Finance, the program will accept applications through Jan. 31 and payments will be issued in late spring.
South Carolina
South Carolinians are eligible to receive up to $800 in inflation stimulus. If their 2021 tax liability was less than $800, they’ll receive that amount.
Those who filed their 2021 returns by Oct. 17, 2022, received payment by Dec. 31. If you missed the deadline, don’t worry. Those who file by Feb. 15 are eligible for a second round of payments to be distributed in March.
READ ALSO: Here’s An Overview Of California’s Middle-Class Tax Refund
