Stimulus updates for August 2022 ahead of October deadline for $1,500 refund


WITH inflation hitting an all-time high, many Americans have been hoping for a fourth round of stimulus checks to combat the rising prices of everyday goods.

As we hit the midpoint of August, here are some things you need to know about stimulus checks.

(Stock Image) a stimulus check is a form of payment from the US government to ease the domestic economy during tough times of pandemics or economic crises

As of right now, it’s advised to not count on receiving a check from the federal government.

According to Yahoo, there is very little chance of the government issuing another round of stimulus checks.

Back in 2020 and 2021 consumers and businesses enjoyed various forms of stimulus payments to stabilize the economy during the Covid-19 pandemic.

There are 17 states issuing rebates

According to Forbes those states are California, Colorado, Delaware, Florida, Georgia, Hawaii, Idaho, Indiana, Illinois, Maine, Minnesota, New Jersey, New Mexico, Oregon, Rhode Island, South Carolina and Virginia. Residents in these can expect to see an increase of cash flow in their bank accounts.

Americans get $500 monthly payments for six extra months - see who's eligible

Some States are giving more money than others.

California, Colorado, Maine, Minnesota and Oregon are the states issuing the highest amount of rebates.

California residents can receive up to $1,050

In a tweet Governor Gavin Newsom said “We have an agreement with the legislature on California’s budget,” wrote The Governor of California.

“This budget takes immediate actions to give $$ back to millions who are grappling with global inflation and rising costs while tackling some of the greatest challenges of our time.”

Californians who are eligible for a rebate can estimate their check amount using a free calculator provided by the state of California Franchise Tax Board.

Oregon completed paying their residents

New $325 August tax rebate for more than a million Americans being mailed

According to The State of Oregon website, they already completed paying out one-time payments of $600 to low-income workers ahead of schedule.

Residents of Colorado can expect to see payments begin at the end of September

In May, Governor Jared Polis signed Senate Bill 22-233 which gave rebates to those who filed their taxes before June 30. Individual filers can expect to see $750 and joint filers $1,500 according to The Colorado Department of Revenue.

Maine is giving residents direct payments of $850

In April Governor Janet Mills signed a budget delivering financial relief for all residents of Maine. In a press release Gov. Mills wrotetoday, I am here to say to Maine people: help is on the way,” direct relief payments are being issued by mail, and joint filers can receive up to $1,700.

The payments started rolling out in June 2022.

Minnesota is offering $750 to frontline workers

Minnesota residents who were frontline workers between March 15, 2020, and June 26, 2021 and worked a minimum of 120 hours are eligible for a one-time payment of $750.

Frontline sector workers include emergency responders, food service, ground and air transportation and those who worked in health care.

Residents from Minnesota should check The Frontline Worker Pay Program to see if they are eligible.

New Jersey and New Mexico took a more modest approach

Each state offered eligible residents $500 with New Mexico splitting their payments into two payments of $250 payable in June and August.

New Jersey began sending out rebates on July 2.

Florida gave payments to those with children

According to Tallahassee Democrat more than 50,000 families were eligible to receive a one-time payment of $450.

Governor Ron DeSantis signed the bill which started sending checks by mail on July 25; which could be used on anything from school supplies to diapers.

Rhode Island will take a similar approach

Due to a surplus in their budget, Rhode Island taxpayers may be eligible for a one-time Child Tax Rebate payment of $250 per child but there is a limit of three kids. Those with dependents still in school can expect to see their checks by the end of September.

Two States will only give out a few hundred

Delaware and Hawaii will give residents a maximum rebate of $300.

Delaware began issuing their checks in May, while in Hawaii those who filed their 2021 state income tax returns by July 31, 2022, can expect to receive their checks September.

Idaho is doing Less

The state will pay out $75 per taxpayer and each dependent or 12% of state taxes that were paid in 2020. Eligible recipients started seeing payments in March 2022 according to the Idaho government’s website.

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About William Johnson 288 Articles
Demystifying the world of finance is my mission. As a finance news writer with 7 years of experience, I've covered everything from breaking market news to in-depth analysis of industry trends. I'm here to keep you informed and empowered in your financial journey.

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