Thirteen stimulus updates you need to know for August 2022 before the October deadline for a $1,500 refund

With inflation hitting an all-time high, many Americans have been hoping for a fourth round of stimulus checks to combat soaring prices for essential goods.

As we arrive mid-August here are some things you need to know about stimulus checks.

(Stock Image) A stimulus check is a form of payment made by the US government to provide relief to the domestic economy during difficult times of pandemics or economic crises

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(Stock Image) A stimulus check is a form of payment made by the US government to provide relief to the domestic economy during difficult times of pandemics or economic crisesPhoto credit: Getty

As of now, it is wise not to count on receiving a check from the federal government.

According to Yahoo, there is very little chance the government will conduct another round of stimulus checks.

As early as 2020 and 2021, consumers and businesses have enjoyed various forms of stimulus payments to stabilize the economy during the Covid-19 pandemic.

There are 17 states that issue rebates

According to Forbes, these are California, Colorado, Delaware, Florida, Georgia, Hawaii, Idaho, Indiana, Illinois, Maine, Minnesota, New Jersey, New Mexico, Oregon, Rhode Island, South Carolina and Virginia. Residents in these can expect an increase in cash flow in their bank accounts.

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Some states give more money than others.

California, Colorado, Maine, Minnesota, and Oregon are the states that offer the most discounts.

California residents can receive up to $1,050

In a tweet, Gov. Gavin Newsom said, “We have an agreement with the Legislature on the California budget,” the California governor wrote.

“This budget is taking immediate action to return millions of dollars struggling with global inflation and rising costs while addressing some of the greatest challenges of our time.”

Californians who are eligible for a rebate can estimate their check amount using a free calculator provided by the State of California Franchise Tax Board.

Oregon has completed paying its residents

According to the Oregon state website, they’ve already pre-done $600 in one-off payments to low-income workers.

Colorado residents can expect payments to begin in late September

In May, Gov. Jared Polis signed Senate Bill 22-233 that gave rebates to those who filed their taxes before June 30. Individual applicants can expect $750 and joint applicants $1,500, according to the Colorado Department of Revenue.

Maine grants residents $850 in direct payments

In April, Gov. Janet Mills signed a budget to provide financial relief to all Maine residents. In a press release, Governor Mills wroteToday I’m here to say to the people of Maine, “Help is on the way,” direct aid payments are issued through the mail, and joint applicants can receive up to $1,700.

The payments were introduced in June 2022.

Minnesota is offering $750 to frontline workers

Minnesota residents who worked on the frontline between March 15, 2020 and June 26, 2021 and worked at least 120 hours are eligible for a one-time payment of $750.

Frontline sector personnel include emergency responders, food services, ground and air transport, and those working in the healthcare sector.

Minnesota residents should check the Frontline Worker Pay Program to determine if they are eligible.

New Jersey and New Mexico took a more modest approach

Each state offered eligible residents $500, with New Mexico splitting their payments into two $250 payments, payable in June and August.

New Jersey began sending out discounts on July 2nd.

Florida gave payments to those with children

More than 50,000 families were eligible for a one-time payment of $450, according to the Tallahassee Democrat.

Gov. Ron DeSantis signed the law into law, which began sending checks through the mail on July 25; which can be used for everything from school supplies to diapers.

Rhode Island will take a similar approach

Due to a surplus in their budget, Rhode Island taxpayers may be eligible for a one-time child tax refund payment of $250 per child, but there is a three-child cap. Those with dependents still at school can expect to see their checks by the end of September.

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Two states only spend a few hundred

Delaware and Hawaii give residents a maximum rebate of $300.

Delaware began writing their checks in May, while in Hawaii, those who filed their 2021 state income tax returns by July 31, 2022 can expect to receive their checks in September.

Idaho does less

The state will pay out $75 per taxpayer and each dependent, or 12% of state taxes paid in 2020. Eligible recipients have received payments as of March 2022, according to the Idaho government website.

https://www.the-sun.com/money/6011735/what-you-should-know-stimulus-inflation-extra-cash/ Thirteen stimulus updates you need to know for August 2022 before the October deadline for a $1,500 refund

CELINE CASTRONUOVO

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