When Will You Get Your Money
The exact date you’ll receive your money depends on your circumstances, but the IRS has already begun sending electronic payments to millions of Americans.
The speed with which you’ll receive your payment largely depends on how you filed your taxes. The IRS can distribute electronic payments quickly, but they must print and mail paper checks for some recipients, which takes additional time.
On April 15th, the IRS launched a portal to track the status of your stimulus payment. To track your payment, you’ll need your social security number, your birthday, your address and your zip code provided you filed your 2019 or 2018 tax return. If you are a qualified non-filer, there are additional links on the IRS’s website to input your information so you can still receive your check.
On April 2, Treasury Secretary Steve Mnuchin said that eligible Americans who have signed up for direct deposit payments should receive them within two weeks, a process which is already underway. A spokesperson for the Treasury Department expects 50 million to 70 million Americans to receive their checks via direct deposit by April 15, according to The Washington Post.
However, if you didn’t sign up for direct deposit when filing your tax return and require a paper check, you might experience some delays. In fact, because the government lacks banking information for millions of Americans, $30 million in paper checks won’t begin distribution until April 24, or longer.
A 4th Stimulus Check Is Happeningif You Live In These States
10 Min Read | Oct 14, 2022
It seems like every time a stimulus check goes out, theres a five-second pause before someone starts asking, So . . . will there be another stimulus? . If youre one of those people who has been wondering if a fourth stimulus will happen, weve got your answer: Yes . . . kind of. Its true, a fourth stimulus check is happeningbut only if you live in certain states in America.
Right now, you might be thinking, Wait. What? Really?
Yep, its for real. Lets dig into this topic layer by layer and coast to coast.
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Recommended Reading: When Were The First Stimulus Checks Sent Out
Who Is Eligible For The Third Stimulus Check
For the first two stimulus payments, single taxpayers earning up to $75,000 a year and couples earning up to $150,000 a year were able to get the full amount. Parents also received stimulus payments for each dependent child under age 17.9,10
Those income limits didnt change for the third stimulus payment even though it targeted the payments to lower income earners. Under the American Rescue Plan, payments phased out for single filers making between $75,000 and $80,000 and couples making between $150,000 and $160,000.11
Eligibility for the third stimulus check also expanded to cover any non-child dependents. That means taxpayers who supported certain eligible dependents age 17 and older might have received more money too.12
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Federal Stimulus Checks Wont Be Coming Before The Election
The current Congress is not going to provide another stimulus check. The last payment, authorized by the American Rescue Plan Act, was passed along party line votes through a special process called reconciliation. There is no further opportunity to pass legislation this way until after the election, and there is not broad enough support to get a bill through that would authorize a fourth payment.
Recommended Reading: How Can I Check For My Stimulus Payment
Which Cities Are Giving Out 4th Stimulus Checks
Thats rightcities are now getting in on the stimulus check action too . See if your town made the list:
Low-income residents of The Windy City have been given stimulus checks at random. You read that right. Chicago will give out $500 checks to 5,000 people each month throughout 2022. Theyll be selected at random for this stimulus lottery.20
Like Chicago, LA is handing out payments to low-income residents for a year. Their program, called BIG:LEAP, will give 3,200 randomly chosen people $1,000 each month.21
Pittsburghs program is called the Assured Cash Experiment and gives 200 low-income residents $500 each monthfor two years. The program will spend $2.5 million on lower-income zip codes.22
The close-by neighbors of LA are getting a stimulus program of their own called the Revive Santa Ana Resident Stimulus Program. It will give out $6 million to neighborhoods that fall below the poverty level in Santa Ana. Payments of $300 will be loaded onto prepaid debit cards and given out door to door to about 20,000 residents.23
Seattle has one of the more generous payouts on the list. The Seattle Relief Fund is a $16 million program that gives payments of $1,0003,000 to low-income residents of the Emerald City.24
When Will A Second Stimulus Check Be Issued
The government began sending direct deposit payments on December 28, 2020. Paper checks were sent out starting on December 30, 2020.
Payments are automatically sent to:
- Eligible individuals who filed a 2019 tax return.
- Social Security recipients, including Social Security Disability Insurance , railroad retirees, and Supplemental Security and Veteran Affairs beneficiaries.
- Individuals who successfully registered for the first stimulus check online using the IRS Non-Filers tool or who submitted a simplified tax return that has been processed by the IRS
There is no action that you have to take to get your second stimulus check. People who provided their banking information with the IRS shouldve received their stimulus checks by direct deposit. Social Security and Veterans Affairs beneficiaries who received the first payment via Direct Express shouldve received the second payment the same way.
The IRS sent paper checks or prepaid debit cards to people who did not provide their banking information. Mailed payments may be delivered in a different format than the first stimulus check.
All second stimulus checks were issued by January 15, 2021. If you didnt get a second stimulus check by then , you can claim your second stimulus check as the Recovery Rebate Tax Credit on your 2020 tax return or use GetCTC.org if you dont have a filing requirement.
Don’t Miss: Who Sends The Stimulus Checks
Stimulus Check Update: Fourth Check Coming In Different States
While it is unlikely that a fourth stimulus check would be provided by the federal government, several states have started on their own. Quite a few states have been doing their part by ensuring that the federal stimulus money gets distributed equally to those deemed eligible.
As a major part of the American Rescue Plan, the states have been allotted almost $200 billion as their expenditure for the recovery of the American economy from the COVID-19 pandemic. Several states have their deadline in December to send this money out, with Governors already doling out cash where they feel it is needed the most.
What If My Mailing Address Changed Since I Received My Previous Stimulus Checks How Will I Get My Third Stimulus Check
If you are expecting to receive your third stimulus check by mail, it will be mailed to the last address you filed with the IRS. If your address has changed since then, there are different options you can take to make sure your stimulus check gets to you:
Option 1: File your 2020 federal tax return to update your address. If you havent filed your 2020 tax return yet, this is an easy way to update your address. File a tax return with your current address and your payment will be sent through the mail once the IRS receives your updated address.
Option 2: Provide your banking information in the IRS Get My Payment tool. If the post office was unable to deliver your stimulus check, it will be returned to the IRS. Two to three weeks after the payment has been issued, Get My Payment will display the message Need More Information. You will have the option to have your payment reissued as a direct deposit by providing your banking information.
If you dont provide your banking information, the IRS will mail your payment once your address is updated.
Option 3: Notify the IRS that your address has changed by telephone, an IRS form, or a written statement. It can take 4-6 weeks for the IRS to process your request.
Also Check: Who’s Eligible For The Third Stimulus Check
Who Will Get The 4th Stimulus Check
Who gets the 4th stimulus check will be largely determined on a state-by-state basis. Even then, most of them are hardship-based or limited to specific professions, so eligibility criteria also comes into play.
States offering some version of a fourth stimulus check generally allocate funds to help the unemployed, front-line workers, families with young children, and other subsets of the state population.
Will There Be Another Stimulus Check From The Federal Government
Most people agree that getting another big stimulus check from the federal government is a long shot at this point. Still, some lawmakers keep pushing for another stimulus check to help Americans who are struggling to rebuild thanks to COVID-19 and its economic impact. And with the Delta and Omicron variants out therewould another stimulus check happen for everyone? You never know. Only time will tell, really. A lot of people didnt think wed see a third stimulus check eitherbut it happened.
With the economy and jobs both on the upswing, the need for a stimulus check is way less than its been since the start of the pandemic. Not to mention, a lot of people have been getting extra cash each month from the Child Tax Credit. Add all of that up and its easy to see that there might not be another stimulus check. But if there is one, dont worrywell let you know.
Read Also: Irs Tax Stimulus Checks 4
Illinois: $50 And $300 Rebates
There are two rebates available to 2021 Illinois residents.
The first rebate is the individual income tax rebate, available for residents whose adjusted gross income is less than $200,000 per year . Each individual will receive $50, with an additional $100 per eligible dependent .
The second rebate is a property tax rebate, available for residents making $250,000 or less . The rebate is equal to the property tax credit you qualified to claim on your tax return, up to a maximum of $300.
The state started issuing rebates the week of September 12 it will take several months to issue them all, according to the Illinois Department of Revenue.
State Stimulus Checks 202: Whos Getting What When And How
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The last few years have wrought havoc on peoples finances.
First, there was COVID, which cost approximately 9.6 million Americans their jobs. And now theres inflation, which is currently hovering at around 8.3% after falling from its June peak of 9.1% the highest it had been for 40 years.
Thankfully, the $5 trillion in stimulus packages helped people stay afloat throughout the pandemic. But that was in 2021.
This year, most struggling households have received little to no support until now.
This time, 20 states are leaning on budget surpluses to issue one-time inflation relief checks to residents. Do you want to find out whos getting what, when, and whether you can expect one of these payments too?
Here is a quick summary of the 20 state stimulus checks issued in 2022:
Also Check: State Of Maine Stimulus Check
Stimulus Payments Are Coming To These States In October
When the last of three Economic Impact Payments was issued by the IRS to qualified Americans, many individual states stepped in and used surplus budget funds to provide additional relief to residents still struggling amid high inflation.
Food Stamps: What is the Maximum SNAP EBT Benefit for 2023?
For those who live in states that have already sent inflation relief or stimulus rebates like Colorado, Delaware, Florida, Georgia, Idaho, Indiana, Maine, New Jersey, New York and Pennsylvania administrative delays and residents submitting tax refunds on a rolling basis over the past few months could mean that many citizens of these states could be getting payments this month, too. However, barring unexpected crises, residents of California, Hawaii and Virginia specifically will be receiving state stimulus refunds in October 2022:
Alaska Dividend: 2022 Details
In 2021, the PFD amount was $1,114, and for a short time, it seemed as though Alaskans might receive as much as $5,500 from the state in 2022. When oil prices climbed after Russiaâs invasion of Ukraine, Alaska, a top oil producing state, anticipated a surge in revenue. Whatâs more, in an election year, some lawmakers apparently felt pressure to follow through on campaign promises to deliver a large dividend.
The Alaska Senate passed a budget that included a $4,200 PFD and a $1,300 energy relief payment. However, the price tagâan estimated $3.6 billionâwas too much for a majority of members in the House to stomach.
Instead, the final budget approved by state legislators included $3.4 billion from the Permanent Fund, which was split between dividends to residents and the general fund. It also added an energy relief payment to the 2022 PFD for what was then expected to be a total payment to individuals of about $3,200. Once final calculations were made, the exact number came in at $3,284.
âAlaskans have waited seven long years to receive a fair and sizable dividend, and it couldnât have come at a more important time,â said Gov. Mike Dunleavy in a press release.
Currently, the annual payment amount is set by legislators, something Dunleavy called an âarbitrary political processâ in his statement. He said a better approach would be to amend the Alaska Constitution to include a funding formula.
Also Check: New Jersey Stimulus Check 2022
Will Democrats Approve Stimulus Checks
Even though DFL controls the Legislature and the governor wants to send stimulus checks, there is a slight chance that the proposal to send the stimulus checks from Minnesota may fail. This is because not all DFL members support sending stimulus checks.
House Speaker Melissa Hortman hinted the same when talking on WCCO Sunday morning last month.
We have to have 68 votes to get anything through the Minnesota House of Representatives. Im not sure if we have 68 votes for that, Hortman said. We havent had the chance to appoint our tax chair and to figure out whether thats the direction were ready to go.
So, there is still suspense on the $1,000 stimulus checks from Minnesota. However, what we do know is that the chances of a stimulus checks proposal winning approval are far better now than last time.
This article originally appeared on ValueWalk
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How To Return A Paper Check You Have Not Cashed Or Deposited
If youre one of those folks who has to send the money backand you havent cashed or deposited your check yetheres what you need to do:
- Write Void in the endorsement section of the check, but dont fold or staple itdont even put a paper clip on it.
- On a sticky note or sheet of paper, write down the reason youre sending the check back.
- Mail the check and the explanation back to your local IRS office .
Also Check: Irs Stimulus Check Sign Up
Recommended Reading: Who Is Eligible For Stimulus Checks 2021
Idaho: $75 Rebate Payments
In February, Idaho Gov. Brad Little signed a bill that allocated $350 million for tax rebates to Idahoans. There were two criteria for eligibility:
- Full-time Idaho residency and filed 2020 and 2021 tax year returns, OR
- Full-time Idaho residency and filed grocery-credit refund returns.
The payments began in March. Each taxpayer received either $75 or 12% of their 2020 Idaho state taxes, whichever was greater . The rebate was applicable to each taxpayer and dependent.
The tax commission first issued rebates to taxpayers who received tax refunds via direct deposit, then sent paper rebate checks. The majority of the rebates have been issued.
In a special session on September 1, Idaho lawmakers voted to authorize another tax rebate for all residents who filed state tax returns in 2020. Individual filers will receive $300, and couples filing jointly will get $600.
Those payments started processing in late September, and about 75,000 payments will be sent out each week throughout the end of the year and into early 2023.
State residents can check their rebate status on the Idaho State Tax Commission website.