Stimulus Update: Here Are the Final 5 States Set to Send Millions of Stimulus Checks

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KEY POINTS

  • While all states received stimulus funds from the federal government, only some choose to share their budgetary overflow with residents.
  • It's reasonable to believe that all checks will be distributed by the end of May.
  • At this point, stimulus funds may help households fight inflation.

For these five states, the work continues.

There's no question that COVID-19 did a number on the economy, both here and around the globe. After all, who would have imagined that states would still be sending checks three years after the pandemic hit American shores? Once it became clear that more federal stimulus checks were highly unlikely, these states stepped in to fill the financial gap.

Just as everyday citizens received stimulus checks, so did individual states. Some of those state governments decided to share a portion of their stimulus funds with residents. Whether states labeled the funds a tax rebate, inflation relief check, or one-time taxpayer refund, they've all been a type of stimulus.

As we start off February, these five states continue to process payments. According to some, payments began going out in 2022. However, for a variety of reasons, millions of residents have yet to receive the additional funds in their bank accounts.

Here's where states stand as of today.

1.Colorado

Coloradans who requested an extension to file their 2021 tax returns should receive stimulus funds sometime this week. Single tax filers are due $750, and joint filers are owed an extra $1,500 to spend on bills or save for a rainy day.

2. Idaho

Idaho residents will have to wait until the end of March for a rebate approved by a special session of Idaho legislators. Single tax filers will receive $300 or 10% of their 2020 income tax liability, whichever is greater. For joint filers, the amount is $600 or 10% of their 2020 income tax liability, whichever is greater.

3. New Jersey

New Jersey residents have until the end of May to consider what they want to do with their property tax rebates. Homeowners earning up to $150,000 qualify to receive $1,500, while homeowners earning $150,000 to $250,000 are due $1,000. Renters who earn less than $150,000 qualify to receive a $450 rebate.

4. Pennsylvania

Residents 65 and older, widows and widowers age 50 and older, and people with disabilities age 18 and older are welcome to apply for rebates on property taxes or rent paid in 2022. The maximum standard rebate is $650, but qualified homeowners may receive as much as $975 through a supplemental rebate. The state encourages applicants to use myPATH to submit an online application.

5. South Carolina

South Carolina residents have until Feb. 15 to file their 2021 state income tax returns and become eligible to receive a refund check of up to $800. The actual rebate amount will be based on 2021 South Carolina income tax liability, minus credits.

If it seems odd for residents of South Carolina to file their 2021 state returns as the rest of the country files their 2022 returns, the delay can be attributed to Hurricane Ian. The original filing deadline was Oct. 17, 2022, but was pushed back to give those impacted by the hurricane more time to get their records together and file.

Given the loss of life and economic impact of the pandemic, we can only hope that COVID-19 will truly be a once-in-a-lifetime experience. We can't be sure of that, of course, but we do know that if anything like this happens again, local and state governments may have a better idea of how to handle it.

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