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Tuesday, November 29, 2022

State Stimulus Check: Have You Filed Your State Tax Returns?

With federal stimulus checks drying up in 2022, the states remain the only hope for citizens who are struggling with high inflation and the consequent rise in prices of essential goods and gasoline. And you could miss out on an $800 stimulus check if you miss your state tax filing deadline.

Gov. Jared Polis of  Colorado announced a stimulus check for 3.1M residents of the state with married couples filing jointly set to get an $800 rebate on taxes. Individuals’ tax filers will get half that amount.

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The governor said that the rebate is to help families face up to the rising prices that have put even essential commodities out of the reach of low-income and middle-income earners.

The Consumer Price Index continued to be above the 8% mark and stood at 8.3% in April, marginally down from the 8.5% in March. Gov. Polis said that people are being forced to pay way more for regular items of everyday use such as groceries, rent, and gasoline, though they are not at fault.

The Governor said that instead of holding on to the surplus budget with the state government, the government decided to return part of it to permanent residents of the state. This, he said, would empower people and provide instant relief to residents and give them the freedom to spend it the way they choose.

Eligibility For The Colorado Stimulus Check

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To be eligible to receive the Colorado stimulus check, residents must file their income tax returns by the last day of May and must be residing in the state permanently. The state administration has informed taxpayers that they can expect to receive their stimulus check by August-September.  

Maine, Delaware, and Illinois are also sending stimulus checks to their residents. While Maine residents will get an $850 relief payment, residents of Illinois and Delaware will receive $400 and $600 respectively.

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