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Saturday, August 6, 2022

Stimulus Check Update- Families In Virginia To Receive A Sum Of $500

Although the federal government seems to have given up on bringing out a new stimulus check payment to the citizens of the United States to combat the rising inflation, the state governments have decided to pick up the slack.

The governments in a few states throughout the country have been using tax surpluses and leftover funds from the American Rescue Plan Act to provide direct financial support to millions of taxpayers throughout the country. One of the states that have been working hard to make life more affordable for the residents is Virginia, where the taxpayers should be expecting to receive a sum of $500 in tax rebates this year. According to information provided by the Virginia Department of Taxation, almost anybody who had a tax liability in 2021 will be receiving a tax rebate if they ended up applying, with around $250 available for those who filed individually, and a sum of $500 for those who filed jointly. 

Virginia To Issue Stimulus Check Payment

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Although this is not a stimulus check payment technically, the rebate is quite effective- as it will provide people will some financial relief- especially those who owe some money. For those who are unaware, the term tax liability is used to refer to the amount of tax that an individual would be owing the state throughout the year- which comes without any subtractions, credits, or deductions. Anybody who has owed the government money in Virginia will be able to use the tax rebates to offset that debt and also reduce the amount of cash that they owe the government. 

According to the Virginia Department of Taxation website, the stimulus checks will start being issued by the fall of the year. The state website has also described how anyone eligible for the rebates should end up filing their taxes by the 1st of July to receive their rebate in October. 

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