Millions of Americans due for stimulus checks by the end of May

This could be the country’s last stimulus check.

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the main points

• Once it became clear that the federal government wasn’t sending more stimulus, some states stepped in to fill the gap.
• Income limits apply in most states.
• The impact of COVID-19 could ripple through the economy for years.

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It has been nearly three years since the US economy went into complete lockdown. We knew very little about COVID-19, but many of us knew someone who died from the virus. those who were able I worked from homeMillions of us are used to wearing our pajama pants to Zoom meetings. Those who left home to work faced the horrifying prospect of contracting the disease.

With more businesses closing and unemployment rising, the federal government has realized that COVID-19 has the potential to send the economy into a deep black hole. By March 2020, the CARES Act was signed into law. As part of this act, the majority of Americans received a stimulus check that was deposited directly into their account Bank accounts or via mail.

Countries have also received stimulus funds. Overall, the federal government has sent three rounds of stimulus to the American people. When it became clear that no more checks would be forthcoming, some states decided to step in, sending money to state residents.

Some of the following states have started distributing stimulus checks in 2022. However, millions of residents have yet to receive the money for various reasons. If your state is listed, check to see if your situation fits into any of these scenarios.

California

California said most of the relief payments of up to $1,050 had been made by the end of 2022. However, about 5% won’t be sent until Monday, January 16th. The number of people in your household, and your tax filing status. As long as you are single earning less than $250,000 a year or a married couple earning less than $500,000, you can expect to earn between $350 and $1,050.

Colorado

In Colorado, it’s state residents who have requested an extension to file their 2021 tax returns who are due to receive stimulus money by the end of January. Individual tax filers can expect $750, and joint payers $1,500.

Idaho

In 2022, Idaho lawmakers agreed to discount a special session. By the end of March, taxpayers will receive $300 (for single filers), $600 (for subscribers), or 10% of their 2020 income tax liability — whichever is greater.

New Jersey

By the end of May, 2 million New Jerseyans are eligible for a property tax deduction. Homeowners earning up to $150,000 are eligible to receive $1,500, while homeowners earning $150,000 to $250,000 can expect to receive $1,000.

Don’t leave NJ renters out of the loop. Renters earning less than $150,000 are entitled to $450.

Pennsylvania

Starting January 19, 2023, seniors and disabled Pennsylvanians can apply for rebates on property taxes and rent paid in 2022. The state encourages able applicants to use my way to submit their application online. The maximum deduction is $650, but an additional deduction for qualified homeowners could increase that amount to $975.

South Carolina

South Carolina residents who filed their state income tax returns after October 17, 2022 (but before February 15, 2023) are scheduled to receive a refund check of up to $800.

Who would have imagined that stimulus checks would be a topic of discussion nearly three years after the IRS sent its first check? The fact that states decided there was a need continues to underscore The economic impact of the pandemic.