What Should You Know About The Stimulus Check Payments This Year?

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Stimulus Check

In March 2020, the economy in the country had gone through a full shutdown mode- which was a response to the coronavirus pandemic.

Almost immediately, the government decided to bring in a series of stimulus check packages that were construed as an effort to support consumers and businesses. While the federal payments have run out quite some time ago, there are a few states that are still in the process of issuing aid. Although several programs ended in 2022, there are more than a few states that still have 2023 payments on their schedule. 

Stimulus Check Payments Coming In A Few States

In the state of California, the government decided to authorize stimulus check payments of around $1050 in 2022, while most of the payments have been distributed already. However, the state also estimated that around 5% of the checks will not be issued until 15th January 2023.

The amount for rebate started at $350 and is based on a combination of household size, income, and status of tax filing. Singles that have earned $250,000 or more and couples who have earned at least $500,000 are ineligible for the payment. In the state of Colorado, the state residents who filed for their 2021 taxes on time have already received their payments of $750 for singles and $1500 for joint filers by 30th September. However, those who filed an extension by the 17th of October might still be awaiting their payment. 

In the state of Idaho, the government has approved the Special Session rebates for 2022 that will be issued by the end of March 2023. The amount of the stimulus check payment has been considered to be greater than 10% of a taxpayer’s 2020 income tax liability, with single filers earning $300, and joint filers earning $600.