The possibility of a fourth federal stimulus payment has been on the table since the last of three Economic Impact Payments (EIP) was issued by the IRS to qualified Americans.
In the meantime, many states have stepped in by using surplus budget funds to provide additional relief to their residents still struggling amid persistent high inflation. In Montana, for example, married filing jointly taxpayers can receive an income tax rebate up to a maximum of $2,500 if eligible.
Some states have designated stimulus funds for targeted groups like teachers and energy savers, while others have provided bonuses to farm workers, essential workers and frontline workers. A growing number of cities — like Chicago, Los Angeles, Pittsburgh and Seattle — are sending stimulus payments to low income households this year, according to Ramsey Solutions.
The Sun detailed an exhaustive list of job-, city- and state-specific stimulus check updates. Checking it regularly and looking at your city and state websites (and state Department of Revenue sites) for news on relief payments is wise. Make sure to follow up on any stimulus program payments and tax rebates that were already distributed this year to see if you were eligible for any benefit offered.
There are some state-wide stimulus programs that are in full-swing or just getting started, some of which follow.
Alaska
The Alaska Permanent Fund Dividend pays Alaska residents a portion of the state minerals revenue in the form of an annual dividend to benefit current and future generations. It is calculated based on the number of eligible Alaskan applicants in a dividend year and half of the statutory net income averaged over the five most recent fiscal years.
Although the deadline is March 31 of the year for which you are applying, there are some exceptions. “Applicants who filed an online application (web) and selected direct deposit and have been determined eligible for payment by September 22, 2023, will receive their 2023 dividend through direct deposit on October 5, 2023. Applications (web and paper) determined eligible for payment by October 18, 2023, will receive their dividend October 26, 2023, by direct deposit or check. Checks are mailed from Juneau starting October 26, 2023,” states the Permanent Fund Dividend site.
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Massachusetts
Massachusetts began paying state tax refunds on Nov. 1, 2022, to eligible filers who were entitled to a refund of 14% of their 2021 Massachusetts state tax liability. However, if you have not yet filed your 2021 return, you can still receive a refund if you file by Sept. 15, 2023, according to Mass.gov. If eligible for a refund, you should receive it about one month after you file.
Minnesota
The Minnesota Department of Revenue will send one-time direct tax rebate payments for tax year 2021 to eligible Minnesotans after a recent tax law update. The legislation, signed May 24, 2023, provides payments of $520 for married couples filing a joint return with an adjusted gross income of $150,000 or less. Exactly $260 is available to all other individuals with adjusted gross income of $75,000 or less, as well as another $260 for each dependent claimed on your return — up to three dependents ($780).
Minnesota opened its secure online portal this week for residents to update address or bank information that has changed since filing their 2021 return. Other residents will not have to apply for this payment (the Department of Revenue will use previously filed income tax or property tax information).
Montana
According to the Montana Business & Income Tax Division, Gov. Greg Gianforte has signed state House bills into law to provide tax rebates for eligible Montana taxpayers.
House Bill 192 provides a rebate for individual income taxes paid in tax year 2021. For those whose filing status was single, head of household, or married filing separately, the rebate will be either $1,250 or the line 20 amount, whichever is less. For married filing jointly, taxpayers’ rebates will be $2,500 or the line 20 amount, whichever is less.
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House Bill 222, the Property Tax Rebate, is a rebate of up to $675 a year of property taxes paid on a principal residence. There is a rebate available for property taxes paid for the 2022 tax year and another rebate available for property taxes paid for the 2023 tax year.
New Mexico
The New Mexico Taxation and Revenue Department started issuing rebate checks of up to $1,000 for married couples filing joint returns, heads of household and surviving spouses — and $500 for single filers and married individuals filing separately — in mid-June. Eligible residents who filed a 2021 income tax return and are not declared a dependent on another tax return will receive a payment automatically. This rebate is available to New Mexicans who have filed, or will file, their 2021 state income tax return by May 31, 2024.
Additionally, the state is providing for residents who don’t qualify for the rebates above. According to its Taxation & Revenue site, “The amount has not been determined, but $15 million has been appropriated for the payments. There will be an application process with the Human Services Department. Distribution is expected to take place in July.”
Washington
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The Washington Working Families Tax Credit will provide payments to state residents worth between $50 and $1,200. Payments will go to individuals and families who meet certain eligibility requirements (dependent on your income level and how many qualifying children you have in your household). Undocumented workers and others who use an Individual Taxpayer Identification Number to do their taxes are eligible for this payment — and if you’re eligible, you have three years to claim your credit.
