Essence Magazine:
Inflation is out of control and although the Fed is reportedly taking measures to control it over the long term, people are feeling the pain now.
The Wall Street Journal (WSJ) report that the Federal Reserve’s latest U.S. inflation report last week looked dismal. Living costs are likely to continue to rise to helpbolster the value of the USD.
“The worst is yet to come,” said International Monetary Fund Managing Director Kristalina Georgieva at a Thursday IMF and the World Bank briefing as reported by WSJ. “Across many economies, recession risks are rising.”
To alleviate the pressure, quite a few states are currently rolling out payments or will start distributing rebates soon. In most cases, payments hinge on whether residents have filed their 2021 tax returns. According to CNBC some taxpayers have already started receiving checks. Check out what we know, and start checking your mailbox!
California households will receive checks up to $1,050 this month according to the state’s Governor Gavin Newsome with stimulus amounts varying by income and filing status.
Reportedly singles will receive $200 — plus $200 for at least one dependent — and $350 plus $350 for at least one dependent.
Joint filers could get $400 plus $200 for dependents and $700 plus $350.
Qualified Colorado residents stand to receive $750, and joint filers are eligible for $1,500 as part of the Colorado Cash Back tax rebate program.
Delaware state residents can receive up to $300 to every adult resident of the state, including those who didn’t file their 2021 taxes.
Low-income Florida families with dependents will receive one-time payments of $450 per child. CBS News reported checks were set to arrive before the state’s back-to-school sales-tax holiday between July 25 and Aug. 7.
Since May, Georgia residents have reportedly been receiving payments up to $250 for single filers, $375 for head-of-household filers and $500 for joint filers. The state’s Governor, however, has said “It may take some time for all refunds to be processed” due to high volume.
Residents making between $100,000 — $200,000 for couples filing jointly — will receive a rebate payment of up to $300. Anyone earning more will get $100.
The state started making 25,000 payments of $75 per week in March.
Illinois state officials launched the Family Relief Program back in July, which included $50 tax rebates for those earning less than $200,000, or $400,000.Payments started going out Sept. 12.
Indiana had already approved a $125 rebate for qualifying taxpayers who filed 2021 returns. On Aug. 5, Gov. Eric Holcomb approved an additional rebate of $200 for individual filers or $400 for joint filers. Anyone who qualified for the first rebate automatically qualifies for the second. Direct deposits were expected as early as Aug. 19.
Since June, Maine has been rolling out their sweeping rebate program where qualifying residents receive $850 payments with eligible joint filers receiving $1,700.
According to GoBankingRates.com, New Jersey’s Middle Class Tax Rebate program is over, but the states’ residents that qualify for New Jersey Communities for Homeowners and Renters (ANCHOR) program and receive up to $1,500, with renters qualifying for $450.
New Mexico residents are eligible to receive $1,500 based on tax filing status and income. Since Aug. 15, the state has issued more than 2.4 million payments.
South Carolina residents can receive up to $800 for taxpayers who have filed tax returns by Oct. 17. All payments are reportedly supposed to be sent out by the end of 2023.
Virginia residents that qualify for payment will receive a one-time payment of $250 for individuals and $500 for joint filers. All residents must file by Nov. 1 to receive their checks.
The post This Is The Last Week To Claim Your Relief Check In Some States Heres How To Get Your Money appeared first on Essence.
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