Rhode Island: $250 Rebate Per Child
Rhode Island is sending a one-time payment of $250 per child, thanks to a state budget surplus.
Households can receive a payment for up to three dependent children, for a maximum of $750. Those children must have been listed as your dependents on your 2021 federal and state income tax returns.
Taxpayers must earn $100,000 or less to be eligible for the payment.
Child Tax Rebate check distribution began in October. Taxpayers who filed their 2021 state tax returns on extension by October 2022 will receive their rebates starting in December. You can check your rebate status on Rhode Islands Division of Taxation website.
What To Do With Your Stimulus Check
No matter how small or large your relief check is, the arrival of an unexpected sum of money can be a great incentive to move forward in your financial journey.
Whether you receive a stimulus check of $50 or $1,000, you should consider using it to pay down any high-interest debt such as or personal loans, investing it in a Roth IRA or traditional IRA or saving it for a future home purchase. Select ranked Charles Schwab and Fidelity as some of the best brokers who offer Roth IRAs.
If your emergency fund is low or you’re saving for a big purchase, put your new stimulus money into a savings account. And if you’re currently earning a low interest rate on these funds, think about opening a high-yield savings account which can pay you more on your money each month the American Express® High Yield Savings Account and the Sallie Mae High-Yield Savings Account are two good ones to consider.
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Who Would Qualify For A Gas Stimulus Check
Heres the rundown: At a federal level, gas stimulus checks would go out to individuals making $75,000 or less and joint filers with a combined income of $150,000 or less.2 So just like with other stimulus checks, youll have to meet income requirements to qualify.
Now, anyone making more than those income limits would still get a gas stimulus checkbut for a smaller amount. And theres a cap to this thing too. The gas stimulus check wouldnt apply to individuals making $80,000 and above and joint filers making $160,000 or more.3
And were assuming youd probably need to have a drivers license or own a car toojust a hunch. Sorry, your kids bike and scooter dont count here.
$300 Monthly Stimulus Checks For Gas May Be Coming Heres What We Know
Its no secret that gas prices are surging and therefore, many are feeling it in their budgets and bank accounts.
The good news is, some politicians are devising relief plans that may be able to help relieve some of that burden
A new bill proposed by Democratic Representatives Mike Thompson, John Larson and Lauren Underwood seeks to send up to $300 monthly to certain Americans as long as the nations average gas price remains above $4 a gallon.
While $300 may not seem like its enough, it could be a huge difference for so many living paycheck to paycheck.
In a statement, Rep. Mike Thompson said the gas stimulus will provide middle-class Americans with monthly payments to ease the financial burden of this global crisis.
They would call it the Gas Rebate Act and it would provide a $100 check each month to both joint and single filers, plus an additional $100 for each dependent, as long as the gas prices stay high.
Just like with the three stimulus checks Americans previously received, it would go to single people earning less than $75,000 and joint filers making less than $150,000, with the checks phasing out for anyone making more, up to $80,000 for singles and $160,000 for joint filers.
Where would all this money come from you ask?
As of right now, its proposed that a tax would be charged on oil and gas companies, whose profits have significantly risen, and use that money for checks to Americans.
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State Will Send Rebate Checks In Three Phases Over The Coming Year
Delaware lawmakers approved a rebate program last week that will provide every state resident a one-time direct payment of $300 to help cover the rising costs of gas, groceries and other essentials.
The first round of checks go out at the end of May to residents who filed 2020 income tax returns.
But the $230 million rebate program, funded by Delaware’s nearly $1 billion revenue surplus this year, will eventually provide checks to an estimated 175,000 to 200,000 residents who havent recently filed taxes, including low-income senior citizens and incarcerated people.
Finance Secretary Rick Geisenberger says his office will begin searching for those residents in databases from agencies like the Department of Health and Social Services, the Department of Motor Vehicles and the Department of Corrections this summer.
He added that eligible residents who owe money to courts and other state agencies will still receive their full $300 rebate.
The legislation specifically exempted any debt obligation to other state agencies, so there will be no deduction in these payments,” he said.
The third phase of the rebate program will begin in October, when the Department of Finance will roll out a website where residents who did not receive checks can apply for their rebate.
Geisenberger added that his department hopes to identify as many residents as possible during the early phases of the program to avoid receiving a flood of fraudulent applications for checks later on.
Who Will Get These Direct Payments On October 7
The stimulus payments are expected to be sent out from October 7 through January 2023.
Individual filers who earn 75,000 dollars or less will receive 350 dollars, while couples who earn 150,000 dollars or less will get 700 dollars and families with at least one dependent will be sent out an additional 350 dollars.
“Direct deposit MCTR payments for Californians who received Golden State Stimulus I or II are expected to be issued to bank accounts from October 7, 2022 through October 25, 2022, with the remaining direct deposits occurring between October 28, 2022 and November 14, 2022,” the California state government informed.
“We expect about 90 percent of direct deposits will be issued in October 2022. MCTR debit cards are expected to be mailed between October 25, 2022 and December 10, 2022 for Californians who received GSS I and II, with the remaining MCTR debit cards mailed by January 15, 2023.
“We expect about 95 percent of all MCTR payments – direct deposit and debit cards combined – to be issued by the end of this year.”
Also Check: File For The First Stimulus Check
Middle Class Tax Refund Eligibility
Twenty-three million residents are expected to qualify for the Middle Class Tax Refund.
To qualify, you must have filed your 2020 state tax return by October 15, 2021 and been a California resident for at least six months in 2020. You must not be listed as a dependent on someone elseâs return for the 2020 tax year, and you must be a California resident on the date your payment is issued.
The payments are offered on a sliding scale, based on income and tax-filing status. Low-income tax filers with at least one dependent stand to receive the highest payouts.
Like the two previous Golden State Stimulus payments, individuals who earn more than $75,000 will not receive the full benefit but other details have changed.
Hereâs a breakdown of eligibility for the maximum payout:
- $350: Individuals who earn less than $75,000 per year
- $700: Couples who file jointly and earn less than $150,000 per year
- $350: Additional payout for the above families who have at least one dependent
Income limits to qualify for the minimum payout are as follows:
- $200: Individuals who earn up to $250,000 per year
- $400: Couples who file jointly and earn less than $500,000 per year
- $200: Additional payout for the above families who have at least one dependent
About The 2022 Delaware Relief Rebate Program
The 2022 Delaware Relief Rebate Program was created by House Bill 360. This legislation created a relief rebate, which is a one-time direct payment of $300 per adult Delaware resident. This relief is intended to promote the general welfare of Delawareans emerging from the Covid pandemic and facing higher prices at the grocery store and gas pump.
In May of 2022, the Delaware Department of Finance began issuing one-time payments of $300 to individuals who had already filed their 2020 Delaware resident personal income taxes by the due date. Throughout the Summer and early fall, over 780,000 payments were made to adult residents who timely filed 2021 tax returns and to other individuals, age 18 and older identified via other State agency data.
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Other Benefits For California Residents
The budget contains a handful of additional measures to try to relieve inflationâs impact on residents:
- $1.95 billion for emergency rental assistance for qualified low-income tenants who requested assistance before March 31, 2022
- $1.4 billion in funds to help residents cover past-due utility bills
The budget also includes a $14.8 billion infrastructure and transportation package, as well as more than $200 million in additional funding that will go toward reproductive health care services.
Californiaâs 2022-2023 budget also provides universal access to health coverage for low-income residents aged 26 to 49, regardless of immigration status, becoming the first state to do so.
Maine: $850 Direct Relief Payments
Gov. Janet Mills signed a supplemental budget on April 20 to authorize direct relief payments of $850 for Maine taxpayers.
Full-time residents with a federal adjusted gross income of less than $100,000 were eligible. Couples filing jointly received one relief check per taxpayer for a total of $1,700.
Taxpayers were eligible for the payment regardless of whether they owe income tax to the state.
Residents who didnt file a state tax return for 2021 could file through October 31 to claim their payment.
The one-time payments, which are being funded by the states surplus, started rolling out via mail in June to the address on your 2021 Maine tax return.
The supplemental budget also includes an increased benefit for Maines earned income tax credit recipients.
Read more: Everything You Need To Know About Maine Stimulus Checks
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Americans Could Receive $300 Monthly Stimulus Check For Gas Expenses
The government wants to assist with the high cost of fuel with a stimulus check. A relief plan may be needed as Americans may purchase $2,000 more in gas this year.
If the countrys average gas price stays at $4 a gallon, certain Americans could receive $300 a month to pay for the expense. This new bill was proposed by Democratic Representatives Mike Thompson, John Larson and Lauren Underwood.
Reports indicate that the gas stimulus will provide middle-class Americans with monthly payments to ease the financial burden of this global crisis.
The Gas Rebate Actwould offer $100 per month to joint and single filers. To add, an extra $100 would be available for each dependent if the gas prices remain high. As with other stimulus checks, single individuals earning less than $75,000 and joint filers making less than $150,000 a year would be eligible. It will begin to phase out for singles making up to $80,000 and $160,000 for joint filers.
The proposal suggests that the funds to cover the stimulus would come from a tax on oil and gas companies. This is because their earnings have increased tremendously.
It isnt clear if the probability that the bill will pass is great, but as many Americans are choosing to drive less, some form of action is needed quickly. If not, the economy could be greatly impacted even more.
Are The Gas Rebates The Same As The Inflation Relief Payments
Basically, yes.
The idea of financial relief for high gas prices was floated by Newsom in March. As the proposal developed it was sometimes referred to as a gas rebate or refund, and sometimes referred to as an inflation relief payment. The official name it ultimately got was the Middle Class Tax Refund. In most cases, those terms are all referring to payments that started going out in October to offset the high price of gas and other goods.
One wrinkle: In the wake of a recent uptick in the price of California gas, Newsom proposed a new tax on oil companies in late September and called for a special legislative session in December to discuss the idea. His proposal is to turn the funds generated from that tax into a refund or rebate for people affected by high gas prices, so thats another gas rebate you might hear about, but it hasnt happened yet.
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Stimulus Checks 202: State Relief Checks Tax Implications And More Of The Biggest Topics Of 2022
Although the federal government did not issue any economic impact payments aka stimulus checks in 2022, some states took it upon themselves to offer financial relief to eligible residents to offset the effects of inflation and rising gas prices. These inflation relief checks were issued in 17 states in 2022: California, Colorado, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Maine, Massachusetts, New Jersey, New Mexico, New York, Pennsylvania, South Carolina and Virginia. Payment amounts ranged from $50 to $1,050 for individuals, depending on the state and income level of the recipient.
See: States Whose Economies Are Failing vs. States Whose Economies Are Thriving
Given the tough economic times, its no surprise GOBankingRates readers looked for information on future stimulus payments they may be receiving, which states are offering inflation relief payments and when they might expect to receive these payments. These topics and more were among our most-read stimulus stories of the year.
Heres a look at the top 10 most-read stimulus stories of 2022.
Stimulus Payments 202: Your State Could Still Owe You A Check
South Carolina and Massachusetts are just two of the states issuing payments to taxpayers.
Dan Avery
Writer
Dan is a writer on CNET’s How-To team. His byline has appeared in Newsweek, NBC News, The New York Times, Architectural Digest, The Daily Mail and elsewhere. He is a crossword junkie and is interested in the intersection of tech and marginalized communities.
As the holidays roll in, we could all use some extra money. South Carolina has started issuing for up to $800 to eligible taxpayers. The income tax rebates were approved by state lawmakers as part of this year’s $8.4 billion budget, according to the state Department of Revenue, and payments will continue to go out through December.
South Carolina isn’t the only state issuing residents tax refunds, though: Illinois is still sending out $50 and $100 rebates and Massachusetts began returning $3 billion in surplus tax revenue this month.
Your state could be sending out a rebate or stimulus check, too. Below, see if you qualify and how much you could be owed. For more on taxes, see if you qualify for additional stimulus or child tax credit money.
Also Check: Update On 4th Stimulus Check For Social Security Recipients
How Youll Receive Your Payment
Californians will receive their MCTR payment by direct deposit or debit card.
Generally, direct deposit payments will be made to eligible taxpayers who e-filed their 2020 CA tax return and received their CA tax refund by direct deposit. MCTR debit card payments will be mailed to the remaining eligible taxpayers.
You will receive your payment by mail in the form of a debit card if you:
- Filed a paper return.
- Received your Golden State Stimulus payment by check.
- Received your tax refund by check regardless of filing method.
- Received your 2020 tax refund by direct deposit, but have since changed your banking institution or bank account number.
- Received an advance payment from your tax service provider, or paid your tax preparer fees using your tax refund.
Delaware: $300 Rebate Payments
Delaware sent relief rebate payments of $300 to taxpayers who filed their 2020 state tax returns. 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 2022.
Instructions to claim the rebate havent yet been released for residents who havent 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.
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What Should You Do If Youre Having Trouble Activating Your Card
You should call the card activation number, which is 800-240-0223, available 24/7, according to the tax boards website. You should also check out the frequently asked questions about the Middle Class Tax Refund debit cards.
If for whatever reason you are still having trouble, you can call the Franchise Tax Boards customer help line, said Martinez. That number is 800-542-9332, and its open 8 a.m.-5 p.m. on weekdays, according to the tax boards website.
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New Mexico Stimulus Checks
New Mexico “stimulus” payments for eligible residents come in the form of two tax rebates in 2022. The first tax rebate amount is $500 for joint filers, head-of-household filers, and surviving spouses with incomes under $150,000, and $250 for single filers and married people filing separate tax returns. The second tax rebate is worth $1,000 for joint filers, head-of-household filers, and surviving spouses, and $500 for single filers and married residents filing separately.
The first-round of tax rebates began in July, while the second-round payments began in June. However, payments will continue to be sent to people who file a 2021 New Mexico tax return by May 23, 2023. As a result, some New Mexicans will receive rebate checks in December. If you filed a 2021 return but haven’t received a rebate, you can all the New Mexico Department of Taxation and Revenue at 866-285-2996.
For New Mexico taxes in general, see the New Mexico State Tax Guide.
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