MILLIONS of Americans can look forward to big direct payments in April.
Notably, the Colorado Property Tax/Rent/Heat Credit (PTC) Rebate and Alaska’s Permanent Fund Dividend (PFD) will make payments next month.
The Alaska Payment represents a portion of the state’s energy profits, which it sends to most residents each year, while the Colorado rebate is designed to help low-income seniors offset energy and housing costs.
Additionally, millions can look forward to their fourth enhanced Social Security exam in 2023.
Every payment falls here.
1. ALASKA PAYMENT
Alaska distributes the PFD to most residents each year.
The payment is the same for all beneficiaries.
When Alaskans receive the check depends on when they filed their tax returns.
Residents classified as Eligible – Unpaid on April 12 are due a payment on April 20.
Those with Eligible – Unpaid status on March 8 received their payment on March 16.
The PFD is worth a total of $3,284 for 2022.
Note, however, that the $2,621.81 of the payment is considered taxable income.
2. PTC PAYMENT
Colorado’s PTC caters to elderly and disabled residents.
To qualify for the payment, you must be at least 65 years old, have a surviving spouse who is at least 58 years old, or be disabled at any age.
You must also have an annual income of less than $16,925 if you are single, or $22,858 if you are married and applying together.
You must also have been a Colorado resident for the past year.
The maximum payout is $1,044.
Those who applied for the rebate on March 10 are scheduled to receive either a direct deposit on April 5 or a paper check on April 15.
3. SOCIAL SECURITY
Millions will receive their fourth Social Security check beginning Wednesday, April 12.
All Social Security payments will increase by 8.7 percent thanks to the 2023 Cost of Living Increase (COLA).
It is based on the consumer price index, which aims to help recipients keep up with inflation.
The average recipient is currently receiving $140 more per month this year than they were last year.
Social Security checks are mailed out on the second, third, and fourth Wednesday of the month, depending on your birthday.
Those with birthdays between the 1st and 10th of the month will get paid on April 12th, while those with birthdays between the 11th and 20th will get their check on April 19th.
Meanwhile, birthdays between the 21st and 31st of the month will be paid out on April 26th.
Below is the full Social Security plan for the next few months:
- Second Wednesday: May 10th
- Third Wednesday: May 17th
- Fourth Wednesday: May 24th
- Second Wednesday: June 14th
- Third Wednesday: June 21st
- Fourth Wednesday: June 28th
- Second Wednesday: July 12
- Third Wednesday: July 19th
- Fourth Wednesday: July 26th
NO SSI PAYMENT IN APRIL
SSI recipients are usually paid on the first of the month, but not in April.
However, this is because there are two payments due in March.
Because April 1 falls on a Saturday, recipients will receive that month’s payment one day earlier, on March 31.
Due to the COLA increase, the maximum payment for an individual receiving SSI is $914.
See which states are promoting SSI payments.
And look at which basic income program is now accepting applications.
https://www.the-sun.com/money/7649777/three-direct-payments-april/ Three direct payments between $1,044 and $4,555 going out in April – see who’s benefiting