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Wednesday, December 7, 2022

Stimulus Checks: These 5 States Are Sending Out Checks

With little immediate stimulus check relief from the federal government in sight to respond to record inflation, some states are taking matters into their own hands. Seventeen states in total will send—or have already sent—payments to taxpayers in the coming months.

Unlike previous pandemic relief measures, these stimulus check payments are much more targeted, and most offer considerably lower dollar amounts. That’s not because governments have developed a stingy streak. Rather, it’s about helping Americans weather rising prices without making inflation worse.

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“Plans focused on specific sectors or groups, such as gas cards or disbursements based on income thresholds, in theory could help ease the pain caused by prices of specific goods or services…without putting as much pressure on prices more broadly,” says Andrew Patterson, senior international economist at Vanguard.

Here’s how 5 of the federal and state governments plan to bring taxpayers relief in a world of surging prices.

Approved State Stimulus Check and Rebate Check Programs

California: Up to $1,050 Rebate

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California’s new budget includes payments of $700 for couples filing jointly making under $150,000 annually. Individual taxpayers within this income cap will receive $350. Eligible households will also receive an additional $350 if they have qualifying dependents.

Taxpayers with incomes at $75,000 or above will receive a phased benefit with a maximum payment of $250. Households will get an additional amount up to $250 if they have qualifying dependents.

Californians can expect to receive stimulus check payments between October 2022 and January 2023 via direct deposit and debit cards.

Colorado: $750 Rebate Payments

Colorado will send tax rebates of $750 to individual filers and $1,500 for joint filers this summer. Colorado residents for the entire 2021 tax year who are 18 or older and filed their 2021 state income tax return are eligible for the payment.

Only physical stimulus checks will be sent out in an effort to prevent fraud. Taxpayers who filed an income tax return by June 30 will receive their check by September 30; those who filed an extension can expect their check by January 31, 2023.

Delaware: $300 Rebate Payments

In May, Delaware started sending “relief rebate” payments of $300 to taxpayers who filed their 2020 state tax return. The one-time payment is possible due to a budget surplus. Couples filing jointly will receive $300 each.

Payments were distributed to most eligible Delaware residents in May.

Instructions to claim the rebate haven’t yet been released for residents who haven’t filed a 2020 state tax return. Instructions are anticipated to be announced by Oct. 17.

Check your rebate status or get answers to frequently asked questions from the Delaware Department of Finance.

Florida: $450 Payments

Some Florida households with children will receive a one-time payment of $450 per child as part of the Hope Florida—A Pathway to Prosperity program run by the Department of Children and Families.

Eligible recipients include foster parents, relative and non-relative caregivers of children, participants in the state Guardian Assistance Program, and families receiving Temporary Assistance for Needy Families (TANF) cash assistance. The money comes from pandemic aid funds intended for households receiving TANF payments.

You don’t have to do anything to receive your payment; if eligible, you’ll get your payment automatically by check. Delivery is anticipated to take place by mail on or before July 25, when the state’s back-to-school tax holiday begins.

A letter accompanying the check states, “To offset the costs of rising inflation, especially with a new school year approaching, the State of Florida is giving you $450 for each child in your care,” according to the Tallahassee Democrat.

Georgia: $250 Rebate Payments

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