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Sunday, August 14, 2022

Two Weeks Remaining For $800 Stimulus Check Deadline For Tax Filers

Americans of one state have just 2 weeks to file for a stimulus check worth $800. And they should have filed their income tax returns before May 31.

The stimulus check will come in through an income tax rebate. Governor Polis declared on April 25 that this payment will go out to 3.1M residents of Colorado.

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The $400 rebate stimulus check goes out to individuals while married couples who file jointly will get double that amount.

People are facing the effect of the pandemic as the downturn in the economy continues to have a debilitating effect on personal finance. The price of gasoline and essential commodities continued to climb to record highs while the Consumer Price Index stood at a high of 8.3%, higher than predicted by analysts.

Gov. Polis mentioned that residents were forced to pay much more for essential items such as groceries, gasoline, utilities, and rent. He said that instead of sitting on the money that residents of Colorado, the administration wanted to give the cashback as easily and quickly as possible so that residents could get immediate relief. It would empower residents to freely spend the money which is rightfully theirs.

Qualifying For The Colorado Stimulus Check

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Full-time residents of Colorado will qualify for the stimulus payment. The payment will be based on information picked up from the 2021 income tax returns filed before May 31 this year.

People who qualify for the check can expect their stimulus check between August and September, the state administration declared. But it remains unclear if the payments will be in several batches.

Other states too have started sending out stimulus check payments to their residents. Around 850,000 Maine residents will receive a check of $850 by June this year. These payments are being paid from the $1.2B surpluses enjoyed by the state. Residents of Illinois will also get a stimulus check of $400 this year.

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