Stimulus Update: These 5 States Are Finishing Up What May Be the Last Round of Stimulus Checks
KEY POINTS
- Most states that have promised stimulus assistance have already released payments.
- Some residents of five states, including New Jersey and Pennsylvania, await their funds.
- This is likely to be the last pandemic-related release of stimulus checks.
For Americans struggling with the impact of inflation, help cannot come soon enough. And as tax season winds down, some states continue their efforts to help by sending more stimulus checks.
Many states have already pitched in
Naturally, the worst thing to come out of the COVID-19 pandemic has been the number of people lost to the virus. According to the World Health Organization (WHO), 1,118,800 Americans died of COVID-19 between Jan. 3, 2020 and Apr. 12, 2023. There's no way to lessen the tragedy or to compare it to the financial struggles brought on by the pandemic.
Still, financial struggle is real, and nearly half of all U.S. states have already pitched in to help residents get back on their feet. Using billions of dollars in federal relief funds, states have lasered in on the residents most likely to benefit from the help.
Most states who've made promises have already carried through and checks have been deposited into bank accounts across their state. However, some residents of the following five states are still waiting for a check to hit their accounts.
1. New Jersey
State leaders in New Jersey decided to focus on income-based rebates. By May 23, homeowners earning up to $150,000 can expect a stimulus payment of $1,500, and those earning between $150,000 and $250,000 have an extra $1,000 to look forward to. New Jersey renters who earn less than $150,000 annually should receive $450.
2. New Mexico
By June, single tax filers in New Mexico can expect to receive $500, while married couples, heads of households, and surviving spouses are due $1,000. Households can put those funds toward anything, from making a rent payment to building an emergency fund.
3. Pennsylvania
Specifically looking to assist low-income Pennsylvanians age 65 and older; widows and widowers age 50 or older, and people with disabilities age 18 and older, Pennsylvania is sending out rebate checks. For homeowners, the annual income limit is $35,000, and for renters, it's $15,000. Half of Social Security is excluded. The standard rebate ranges from $250 to $650, but qualifying homeowners can see their payment boosted to $975.
Eligible Pennsylvania residents who have not yet filed for the Property Tax/Rent Rebate Program are encouraged to on the state's government website. Residents who would rather file a paper application can download a form and related information on the Department of Revenue's website, or by calling (888) 222-9190. The deadline to apply is June 30, 2023.
4. South Carolina
South Carolina residents who filed their tax returns between Oct. 18, 2022 and Feb. 15, 2023 are eligible for a tax refund check of up to $800. The state has not released the date those checks are expected to be released.
5. Virginia
Virginians with a tax liability from the 2021 tax year and who filed their tax return by Nov. 1, 2022, are eligible for a one-time rebate payment of $250 for single filers and $500 for joint filers. While those who filed by Sept. 5 have likely received their checks, anyone who filed after that time can expect their funds later this year. Rebate payments may not be enough to take a deluxe vacation, but they can help offset the higher cost of groceries.
If it feels as though stimulus news has dragged on for years, that's because it has. Once states had federal funds in their coffers they had to make some tough decisions. Should they share a portion with state residents or save it for a rainy day? Fortunately for millions of households, many states decided to share.
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