If you’re a resident of one of these six states, you could be in line to receive another direct stimulus payment worth hundreds of dollars. Here’s what you should know.
- There are currently six different states that are offering direct stimulus payments to residents who qualify.
- Payment amounts could range from $ 125 to $ 850 or more, depending on the state.
- Democratic lawmakers have also proposed federal legislation that would provide more direct payments to Americans, but it’s still in the early stages.
The enhanced Child Tax Credit was allowed to expire at the end of 2021, which left millions of low- to moderate-income families without the extra cash boosts they had come to rely on. There was still hope earlier this year that lawmakers would come to an agreement regarding more stimulus money for Americans. However, the proposed stimulus bills that have been presented to lawmakers thus far this year have not had the necessary support to move forward.
What this means is that millions of cash-strapped Americans are currently struggling to find ways to bulk up their bank accounts. And while the job market has been unusually favorable for job seekers in recent months, there are still plenty of people struggling to recover from the effects of the pandemic.
If you’re one of them, the good news is that an extra financial boost may be on the horizon. A handful of states are currently offering more stimulus money to residents, and if you live in one of them, you could receive another direct payment in the near future. Here are six states offering more stimulus money to their residents.
These states are offering stimulus money to residents. Do you qualify?
There are currently six states offering stimulus money to residents: California, Delaware, Maine, Indiana, Illinois, and Colorado – but not all residents will qualify for this extra cash payment. If you’re wondering whether your state is on the list and whether or not you will qualify, here’s what each one is offering, when payments are expected to be made, and who is eligible to receive these extra financial benefits.
Millions of Colorado residents will be eligible for a tax refund this summer, with payments worth $ 400 for individual filers and $ 800 for joint filers. The goal of this program is to help provide some inflation relief for Coloradans, and it may be a big help for Coloradoans who are struggling due to record-high inflation.
About 3.1 million Colorado residents will be eligible to receive this tax rebate. In order to qualify, you must be a full-time resident of Colorado with a residence in the state. You must also live in Colorado for at least half of the year. Eligibility will be determined by your 2021 tax return – which must be filed by May 31 in order to qualify. You can expect to receive your payment in the mail in August or September.
Last year, California passed two stimulus packages – the Golden State Stimulus I (GSS 1) and Golden State Stimulus II (GSS II) – that included new stimulus payments for state residents who qualify. The purpose of these stimulus programs is to support low- and middle-income Californians and provide help to those facing hardships due to the pandemic.
The California residents who qualify for payment under the GSS 1 stimulus package will receive payments worth up to either $ 600 for individual filers or $ 1,200 for joint filers. Residents who qualify for the GSS II payments will receive up to $ 1,100. However, some people may receive lower payments for the second stimulus.
You have to be a resident of California who earns less than $ 75,000 a year in order to qualify. Eligibility will be determined by last year’s tax return, and payments will be issued automatically. Another round of payments will be issued in June.
The state of Delaware will also be issuing a tax rebate to residents who qualify. The goal of this one-time direct payment is to help residents cover the rising costs of groceries, gas, and other essentials, the prices of which have skyrocketed in recent months due to inflation.
Delaware residents who qualify will receive up to $ 600 – $ 300 per individual filer or $ 600 for joint filers.
Delaware residents who filed tax returns in 2020 are eligible to receive this one-time payment, as are residents who did not earn enough to file taxes for that year. Residents who filed tax returns in 2020 will be first in line to receive their $ 300 stimulus payments, as eligibility will be determined by the information on tax returns.
Checks will be issued to Delaware residents whose tax information is on file starting this month, and two more rounds of payments will follow.
Indiana residents will also be eligible for extra stimulus money via a tax rebate. These payments will be worth a maximum of $ 125 per individual filer or $ 250 per joint filer, and residents whose bank information is on file with the state may receive their payments as early as this month.
Unlike some of the other state stimulus programs, Indiana’s tax rebate will not be capped at a certain income level. Any person who filed taxes in the state of Indiana before Jan. 3 of this year will be eligible for the one-time payment.
The state of Indiana will use information from your 2021 tax return to determine eligibility and issue direct deposit payments. If your bank account information is not on file with the state, you’ll receive a paper check. Checks are expected to be issued later this year.
The state of Illinois will be issuing tax rebate payments to residents later this year. These payments will be worth up to $ 400. As with California’s stimulus payments, the Illinois stimulus money comes with certain income restrictions. The income cap for Illinois residents to qualify is $ 200,000 for individuals and $ 400,000 for joint filers.
The city of Chicago is also offering financial relief to eligible residents in the form of prepaid gas and transport cards. The goal is to help cover the rising costs of gas and transportation for the city’s most vulnerable residents. The city will issue up to 50,000 prepaid gas cards worth $ 150 and up to 100,000 prepaid transport cards worth $ 50 each.
In late April, the governor of Maine signed into law a stimulus package that will provide $ 850 one-time stimulus payments to residents in the state. These payments are being funded by the state’s budget surplus.
In order to qualify, you’ll need to be a full-time resident of Maine and have an income of less than $ 100,000 for single filers or $ 200,000 for joint filers. Joint filers are eligible to receive up to $ 1,700 from the program.
Eligibility will be determined based on the information in your 2021 tax return, and payments will be issued starting in June. If you have not filed a tax return for 2021 yet, you have until Oct. 31 to do so.
What’s next for federal stimulus payments in 2022?
While there are no federal stimulus payments on the horizon, Democratic lawmakers have proposed more federal payments to Americans via the Gas Rebate Act of 2022. If signed into law, the act, which is meant to help Americans combat high gas prices, would provide energy. rebate payments of 100 per month to eligible taxpayers across the nation and an additional $ 100 per dependent. The act is still in the early stages, though – so whether or not anything will come of it remains to be seen.