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.
Hawaii: $300 Rebate Payments
In June, Hawaiis legislature approved sending a tax rebate to every taxpayer. Taxpayers earning less than $100,000 per year will receive $300, and those earning more than $100,000 per year will receive $100. Dependents are eligible for the rebate, too.
Taxpayers who filed their 2021 state income tax returns by July 31, 2022, should have received their returns in September, and those who requested paper checks should have received them by October 31. Taxpayers who filed their returns after July 31 should receive their check up to 10 weeks after their return is accepted by the tax department.
Congress Previously Acted Quickly To Get Relief To Americans Affected By The Pandemic
When the US and the world were put on lockdown, millions of workers were confined to their homes sending the unemployment rate skyrocketing to 14.7 percent in April 2020. Congress acted rapidly to pass the 2020 CARES Act to get relief to businesses and households, including the first round of stimulus checks of up to $1,200 for eligible adults and $500 per qualifying kid under age 17.
Congress also passed generous enhanced pandemic unemployment benefits which kept households afloat where workers businesses were shuttered or they had to stay home because of pandemic-induced upheavals in their lives. Those benefits were extended in 2020 and again in 2021 but have now ceased, being seen by some as the reason behind a severe labor shortage in the US.
Two more rounds of stimulus checks were also passed in the interim of up to $2,000 in total. They are credited with supercharging the economic recovery which had begun to lag at the end of 2020 as a new variant caused infections to surge. But the last one has also been blamed for the current high rate of inflation.
Number of unemployed people per job opening unchanged at 0.6 in December 2021 #BLSdata
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What Was The Federal Governments Reasoning
Before addressing the impact that the $1,200 stimulus check had on the economy, lets first visit why the government chose to react in this fashion.
The first stimulus check was issued in April of 2020, which was right at the start of the strict COVID-19 lockdowns. In April of 2020, the United States saw an unemployment rate of 14.8% which was the highest unemployment rate the U.S. has seen in a long time. The United States needed to address both the health risks that COVID-19 posed and the economic risks that were unfolding as a result of the pandemic.
The United States believed a stimulus check for qualifying taxpayers would offer two main benefits:
- Provide a financial cushion for those who have lost their jobs
- Provide an incentive for people to spend money, which would stimulate the economy
The added benefit of this would be fewer businesses would need to close, so fewer people would be laid off.
If I Am The Custodial Parent And Ive Neverreceivedtanf Or Medicaid For My Child Will I Receive Any Money From A Tax Return Intercepted By The Federal Government From The Noncustodial Parent On My Case
Maybe.If the noncustodial parent owes you child support arrears and the total arrears onall ofthe noncustodial parents cases meets the threshold amounts indicated in Questions #2, then you should be entitled to receive monies intercepted from the noncustodial parents tax return. The amount of the money you receive will depend on a number of factors, including the amount of the tax return intercepted, the amounts owed to you in your case, and the number of other child support cases in which the noncustodial parent owes child support arrears. You must also have a full-service case open with the Child Support Division to be entitled to receive any monies from an intercepted federal tax return.
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Will More Refunds Be Coming Next Year
Given the significant revenue surplus this year, Massachusetts taxpayers may wonder if more refunds are on the horizon for 2023. Some observers say that doesnât seem likely.
âI donât think weâre going to be in this same situation a year from now,â Stein says. He points to three things that could have helped boost 2022 revenues, but might not be a factor in the future:
- Increased sales tax collection due to pandemic-related spending and rising prices, particularly for cars
- Robust gains in the stock market last year which provided some people income, but didnât contribute to the wage growth used in the 62F formula
- A change in Massachusetts law regarding how taxes from pass-through businesses, such as sole proprietorships and partnerships, are collected.
That last factor may be the most significant. Under the recent law change, taxes from pass-through businesses were collected in fiscal year 2022, but they will be offset by credits that will presumably be claimed next year.
âThe change in the taxation of so-called pass-through business entities which just took effect last year, generated $2.25 billion in revenue, much of which has yet to be claimed in the form of personal income tax credits and deductions by the business owners,â noted Bump in a press release.
When those credits are claimed next year, it might have a dampening effect on state revenues and rule out the possibility another surplus will trigger chapter 62F.
Is Congress Talking About A Fourth Stimulus Check
There are no signs that lawmakers in Washington, D.C. are in serious discussions about a fourth direct payment stimulus check. While there have been calls by the public and from some lawmakers for recurring payments, there has been practically nothing in terms of action.
Emails and phone calls to the White House, Sen. Bernie Sanders, I-Vt., who is chair of the Senate Budget Committee, and Rep. John Yarmuth, D-Ky., chair of the House Budget Committee, asking if such payments are under discussion were not returned.
One pandemic-related stimulus that is being considered for an extension is the monthly advance child tax credit. It raised the previous tax credit from $2,000 at tax time to $3,000-$3,600 with the option of monthly payments. A one-year extension is part of the Build Back Better bill that passed the House. But Sen. Joe Manchin, D-W.V., announced Sunday he would not vote for it. With no Republicans on board, passage of the bill is doomed unless an alternative is found.
A group of Democrats sent a letter to Biden in back in May , but the letter did not get into specifics and nothing else came of it.
A change.org petition started by Denver restaurant owner Stephanie Bonin in 2020 called on Congress to pass regular checks of $2,000 for adults and $1,000 for kids for the duration of the pandemic crisis.
As of late December, the petition has reached nearly 3 million signatures.
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How To Opt Out Of Monthly Child Tax Credit
If you dont want these advance payments, youll have to go through a few steps to opt out. But its pretty simple really. The IRS set up a Child Tax Credit Update Portal for you to opt out and make any changes.
Dont worryeven though the first payment has already gone out, its not too late to opt out of the advance Child Tax Credit payment. Actually, you have the chance to opt out each month. Really! You just have to do it at least three days before the first Thursday of the month.8 So if you want to opt out in September, make sure to opt out by August 30, just to be safe.
Pro tip: If youre married and filing jointly, then both you and your spouse need to opt out of the Child Tax Credit.
Economic Recovery For Some
Relief payments were intended to ease COVID’s economic impact and support the economy in the process. The third round of relief payments started back in March, courtesy of the American Rescue Plan . Over the following months, about 169 million people received up to $1,400 each. That accounted for nearly all of the $422 billion set aside. The ARP checks closely followed the $600 payments from January, which came nine months after the $1,200 payments from the pandemic’s early days. They seem to have worked, but have also helped many who didn’t actually need the money.
In the third quarter of 2021, the U.S. economy grew at an annualized rate of 2.0 percent, according to the most recent estimate from the Bureau of Economic Analysis. That’s a major slowdown from the torrid pace in the second quarter, which saw 6.7 percent growth. The Conference Board forecasts continued though slower growth through the rest of the year. The country’s gross domestic product , an estimate of economic activity across the U.S., has surpassed pre-pandemic levels. By that general measure, the economy has fully recovered.
Consumer spending remains strong, with the rate up 1.7 percent in October, as compared to a 0.8 percent rise in September. Auto sales also show signs of returning, as production increases to fill the need. The increase, in general, is a positive sign for what’s ahead in the holiday shopping season. Overall, goods spending remains above pre-pandemic levels.
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A Fourth Stimulus Payment Is Currently Not In Any Proposal
Researchers have found that the first three stimulus checks helped reduce hardships like food insufficiency and financial instability. So far, during the pandemic, eligible adults have received a max of $3,200 and children have received up to $2,500. For struggling families, thats not enough to bounce back from lost wages and benefits.
Since the American Rescue Plan, the White House has proposed several packages, including the American Jobs Plan and the Build Back Better agenda, but those dont call for more direct aid. President Joe Biden is open to a range of ideas regarding stimulus aid, according to a June statement by White House Press Secretary Jen Psaki, but he already put forward what would be the most effective for the short term.
The scaled-back compromise of the $1 trillion bipartisan infrastructure deal, which was agreed to in the Senate on July 28, doesnt include anything related to human infrastructure it doesnt address child care, improved wages or job training. Instead, those elements are to be included in the proposed $3.5 trillion reconciliation package, which is likely to be scaled back. The White House has outlined its Build Back Better Agenda, incorporating lower health care costs, tax cuts and investments in teachers and schools. Senate Democrats are working on the economic plan, but the process of approving final versions of the bill in Congress could take a while.
Second Stimulus Check: Who Wont Be Getting A $600 Check
The second round of federal stimulus checks are now hitting bank accounts following President Donald Trumps signing of the $900 billion stimulus bill last week. Last-minute passage of the relief legislation will offer a modest lift to the 60% of Americans who have suffered financial woes due to the coronavirus pandemic, yet millions may be disappointed to discover theyre among the groups who dont qualify for the payment.
The checks will amount to $600 for each qualifying adult and child half the amount of the $1,200 checks sent out earlier this year. The $600 per-person payments are part of the stimulus bill passed by Congress in December and signed by Mr. Trump on the evening of December 27.
Efforts by Mr. Trump and Democratic leaders to boost the so-called Economic Impact Payments to $2,000 per adult have stalled after Senate Majority Leader Mitch McConnell in December blocked an attempt to vote on the issue. Wall Street analysts say the push has only a slim chance of moving forward, noting the additional hundreds of billions of dollars the larger payment would cost.
Children will be eligible for the same benefit amount as eligible adults, and families with members of mixed immigration status with a valid Social Security number for one spouse are also eligible for the payments, unlike with the CARES Act rebates, noted the Tax Foundation.
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If I Owe Child Support Will Mytax Return Be Applied Tomychild Supportarrears
Maybe.Federal law and regulationsdetermine when federal payments are intercepted and applied to child support arrears.
IfTANFhas been received for your child,thetotalamount of past due supportonall ofyourchild support cases must be at least $150
IfTANFhasnotbeenreceivedfor your child,thetotalamount of past due supportonall ofyour child support casesmust be at least $500
Will I Automatically Get The Child Tax Credit
If you’ve filed tax returns for 2019 or 2020, or if you signed up with the Non-Filer tool last year to receive a stimulus check from the Internal Revenue Service, you will get the monthly Child Tax Credit automatically. … If you aren’t already signed up, you can still sign up to get the Child Tax Credit.
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Fourth Stimulus Checks Update: Yes You Can Still Get A Check
Yes, after all this time, there are still some stimulus checks programs: just not run by the federal government: On three occasions early on in the coronavirus pandemic, the federal government approved rounds of stimulus checks.
This happened in the CARES Act in early 2020, and again later that year. After the Biden Administration came into office in 2021, another round of stimulus checks was passed that March as part of the American Rescue Plan Act, and headed out the door in the subsequent months.
A Fourth Stimulus Check Is Unlikely
All of the tacit and explicit support for stimulus checks keeps the possibility alive. The support doesn’t make a fourth payment likely, however. And there are many reasons why.
Vaccinations are progressing steadily, albeit not as quickly as in the spring. Adults and those at least 12 years old were already eligible to be inoculated in all 50 states. Emergency approval of the Pfizer vaccine for children ages 5-11 happened in early November. Three different options are available to the public, depending on one’s age, with the Pfizer vaccine fully approved by the FDA. Booster shots of the Pfizer vaccine have also been approved and rolled out for adults. Actually putting needles in arms is taking time, even with supply readily available. Americans have received over 462 million doses, with 70.4 percent of the population having received at least one dose and 59.4 percent completely vaccinated. Vaccination numbers continue to increase at a rate of about one million doses per day, with booster shots and shots for children accounting for much of the recent increase.
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Indiana: $325 Rebate Payments
Indiana found itself with a healthy budget surplus at the end of 2021, and it authorized two rebates to its residents.
In December 2021, Gov. Eric Holcomb announced that Indiana taxpayers would get a $125 one-time tax refund after they filed their 2021 taxes.
Theres no income requirement. Residents must have filed a state tax return for the year 2020 by January 3, 2022, as well as a 2021 Indiana tax return by April 18, 2022, to be eligible. Payments started in May, according to the state.
Taxpayers who filed jointly could receive a single deposit of $250.
A second rebate was approved in August 2022 to grant another $200 per taxpayer.
Most taxpayers will receive their refunds by direct deposit and the second payments started rolling out in late August. If you changed banks or didnt have direct deposit information on file, you should have received a paper check.
Individuals who are only eligible for the $200 payment will not receive them at this time. They will have to file a 2022 tax return before January 1, 2024 to claim the credit.
For more information, visit the state Department of Revenue website.
State Stimulus Payments In 202: These States Are Still Sending Out Checks
Dozens of states announced tax rebates in 2022. Find out which are still sending payments in the new year.
It’s a new year, but numerous states are still issuing tax refunds and stimulus checks announced in 2022. Massachusetts only began returning $3 billion in surplus tax revenue to residents in November, and California officials don’t expect to finish issuing the state’s “middle-class tax refunds” until mid-January. New Jersey homeowners haven’t even started getting payments from the state’s $2 billion property tax relief program, which was signed into law by Gov. Phil Murphy last summer. Those likely won’t go out until the spring.
Your state could still be sending out checks, too. See if you qualify and how much you could be owed.
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What If I Havent Gotten My Stimulus Check Yet
First, head over to the governments site and sign in to your account to check on your payment status. If it shows the stimulus check was issued to you but you havent gotten it yet, you can run a payment trace to track it down. If the check wasnt cashed, the IRS will reverse the payment, and youll be able to claim it on your taxes. You can do this through the Recovery Rebate Credit.
If the check was cashed , youll have to make a claim and go through a whole process to get your stimulus money. That really stinks. Sorry in advance if you fall into that category. But with any luck, they should be able to straighten things out for you.