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    Is a 4th Stimulus Check Coming? Latest News On Federal and State Rebates – Forbes Advisor

    Record-high inflation isn’t going anywhere, and federal and state governments have stimulus check proposals to get money back into Americans’ pockets.

    Advisor Personal Finance

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    Maine Will Start Sending $850 Stimulus Checks In June—Is Your State Next?

    E. Napoletano,  Lisa Rowan

    Contributor,  Forbes Advisor Staff

    Updated: May 3, 2022, 5:25pm

    Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.

    Getty

    If you’re feeling the crunch of higher prices in the grocery store or at the gas pump, relief for your wallet could be on the way. Both federal and state-level legislation has been introduced (and in some cases, passed) to send rebates or stimulus checks directly to Americans.

    Unlike previous pandemic relief measures, however, these payments are much more targeted and with considerably lower dollar amounts. That’s not because governments have developed a stingy streak. Rather, it’s more about helping Americans weather rising prices without making inflation worse.

    “Plans focused on specific sectors or groups, such as gas cards or disbursements based on income thresholds, in theory could help ease the pain caused by prices of specific goods or services…without putting as much pressure on prices more broadly,” says Andrew Patterson, senior international economist at Vanguard.

    Here’s how different governments—from federal to state-level—are looking to bring taxpayers relief in a world of surging prices.

    $100 Per Month Federal Energy Rebate Payment

    On March 17, Reps. Mike Thompson (D-CA), John Larson (D-CT) and Lauren Underwood (D-IL) introduced the Gas Rebate Act of 2022. While in its early stages, the Act would send energy rebate payments of $100 per month to eligible taxpayers and offer an additional $100 per dependent.

    Currently, payment eligibility would be structured similarly to previous stimulus payments. Married filers filing jointly with incomes up to $150,000 and single filers earning up to $75,000 would receive the full payment, with phase-out levels for higher incomes.

    The legislation needs to make its way through Congress before payments can begin.

    Approved State Stimulus and Rebate Check Programs

    Six states have already approved legislation to get tax rebates flowing to their residents. Here’s how those payments are coming along:

    Georgia

    Thanks to a historic state budget surplus, Georgia residents who have filed both their 2020 and 2021 tax returns will be eligible to receive rebate payments based on their tax filing status:

    Single filers: Maximum $250

    Head of household: Maximum $375

    Married filing jointly: Maximum $500

    If you owe income tax or other payments to the state such as delinquent child support payments, you may receive a smaller rebate. Partial-year residents may also receive a smaller rebate.

    Residents who filed their taxes before Gov. Brian Kemp signed the legislation will receive their rebates via a separate payment.

    Georgia taxpayers can learn more via the Georgia Department of Revenue.

    Idaho

    In February, Idaho Gov. Brad Little signed a bill that allocates $350 million for tax rebates to Idahoans. There are two criteria for eligibility:

    Full-time Idaho residency and filed 2020 and 2021 tax year returns, OR

    Full-time Idaho residency and filed grocery-credit refund returns.

    The payments began in March. Each taxpayer will receive either $75 or 12% of your 2020 Idaho state taxes, whichever is greater (check Form 40, line 20 for your tax amount reported). The rebate is applicable to each individual taxpayer and each dependent.

    The tax commission will first issue rebates to taxpayers who received refunds via direct deposit, then send paper rebate checks.

    State residents can also check the status of their rebate online.

    Indiana

    Like Georgia, Indiana found itself with a healthy budget surplus at the end of 2021. In Dec. 2021, Gov. Eric Holcomb announced that Indiana taxpayers would get a $125 one-time tax refund after they file their 2021 taxes.

    There’s no income requirement. Residents must have filed a state tax return for the year 2020 by Jan. 3, 2022, as well as a 2021 Indiana tax return by April 18, 2022, to be eligible. Payments started in May and are expected to continue through mid-summer, according to a state information page.

    Taxpayers who file jointly will receive a single deposit of $250.

    Most taxpayers will receive their additional refund by direct deposit. If you changed banks or don’t have direct deposit information on file, you’ll receive a paper check in late summer.

    For more information, visit the state Department of Revenue website. More information will be added for taxpayers who don’t receive their payment by Sept. 1.

    Maine

    Governor Janet Mills signed a supplemental budget on April 20 to authorize direct relief payments of $850 for Maine taxpayers. Full-time residents with a federal adjusted gross income of less than $100,000 ($150,000 if filing as head of household, $200,000 for couples filing jointly) are eligible. Couples filing jointly will receive one relief check per taxpayer for a total of $1,700.

    Taxpayers are eligible for the payment regardless of whether they owe income tax to the state.

    Source : www.forbes.com

    Stimulus check: These 11 states could have an $850 payment coming

    According to the White House, there is no plan to keep the federal stimulus checks among Americans. However, several states are granting Covid-19, and gas prices stimulus payment

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    Stimulus check: These 11 states could have an $850 payment coming

    Some states are giving money to help their citizens

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    According to the White House, there is no plan to keep the federal stimulus checks among Americans.

    However, several states are granting Covid-19, and gas prices stimulus payments to individuals.

    We have a list of 11 states that started granting money to struggling families under-inflation and stagnant low wages.

    State governments stepped up with new stimulus funds for their residents in tax relief, gas prices, or stimulus checks.

    The 11 states granting stimulus money

    The 11 states granting stimulus money California

    Governor Gavin Newsom proposed sending debit cards to car owners with $400 for fuel.

    Families will obtain one debit card per car with a limit of two per household.

    Californians will see the gas cards in early July.

    Georgia

    The state of Georgia provides refunds ranging from $250 to $500.

    Single filers could receive $250, heads of households could receive $375, and married couples filing jointly could receive up to $500.

    Hawaii

    Governor David Ige proposed a $100 check for all state residents.

    Hawaiian residents earning less than $100,000 will have the right to a $300 payment.

    Meanwhile, people earning more than $100,000 will just receive $100.

    Legislators increased the amount of money granted to the state residents. A family of four could receive up to $1,200.

    Idaho

    Governor Brad Little approved a rebate of 12% to Idahoans.

    Payments began in March, and the first citizens to see their rebate on their hands were the taxpayers who used the direct deposit option.

    Illinois

    Governor J.B. Pritzker approved a $100 rebate per adult and a $50 rebate for dependents.

    Illinois legislation is pushing for a "moratorium on grocery taxes, $300 in property tax relief, and a 10-day freeze on school supply sales taxes."

    Indiana

    Tax refunds will be provided to residents who filed taxes in the state before January 3, 2022.

    Those who did so individually will receive a payment of $125; while married couples will receive double that amount.

    Maine

    Governor Janet Mills signed into law a one-time stimulus payment of $850 to Mainers making less than $100,000.

    Heads of households earning less than $150,00, and married couples who filed their taxes jointly making less than $200,00 apply to the relief payment.

    New Jersey

    Governor Phil Murphy approved a one-time $500 payment for families.

    Governor Murphy planned to add all workers who filed taxes with a tax identification number instead of a social security number, making non-citizens eligible.

    New Mexico

    Filers earning less than $75,00, and married couples with less than 150,000 annual wage who filed their 2021 will receive $250 or $500 payments.

    New Mexico will grant $500 and $1000 for single and married filers in June.

    New York

    Governor Kathy Hochul enacted a property tax relief of up to $970, and a suspension of a $0.16 gas tax until the end of the year.

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    People earning less than $250,000 per year are eligible for the property tax credit.

    Virginia

    Governor Glenn Youngkin proposed eliminating the state's grocery tax while suspending the gas tax for one year.

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    Stimulus Updates To Know for Spring 2022

    The coronavirus pandemic brought unprecedented stimulus to American businesses and workers to the tune of trillions of dollars. Stimulus payments came in waves, and as the pandemic lengthened, it...

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    Stimulus Updates To Know for Spring 2022

    John Csiszar

    Sun, May 15, 2022, 4:00 PM·5 min read

    The coronavirus pandemic brought unprecedented stimulus to American businesses and workers to the tune of trillions of dollars. Stimulus payments came in waves, and as the pandemic lengthened, it almost seemed as if the government would continue to print money forever to bail out the economy. But even as widespread mask mandates and travel restrictions remained in place, the American economy enjoyed a sharp and rapid recovery. Combined with the trillions of dollars of stimulus money in the system, inflation exploded in early 2022 to levels not seen in decades. What does this mean for additional stimulus payments in spring 2022?

    Find Out: How To Get Rich With a Normal Job

    See: 50 Ways You’re Throwing Money Away

    Federal Stimulus Is Likely Over

    From March 2020 to February 2022, the U.S. government injected roughly $5 trillion in stimulus money into the economy. Of that, roughly $1.8 trillion went directly to individuals and families, while another $1.7 trillion went to businesses. But the federal government’s appetite for more direct stimulus is waning. The Biden administration seems focused primarily on infrastructure spending, while many economists warn that additional stimulus would only accelerate the rise in inflation, which hit an astonishing 8.5% in March 2022. Until this trend reverses, federal stimulus is likely on pause, if not over completely.

    But There’s Always a Glimmer of Hope

    Although pockets of the economy are booming, the unemployment rate remains above where it stood before the pandemic, and other enhancements, such as the expanded child tax credit, have expired. The bottom line is that many Americans are still struggling. Against this backdrop, numerous proposals for additional stimulus have been pushed, from a fourth stimulus check to recurring $2,000 monthly payments. If the economy were to roll over again, or if another coronavirus variant began increasing hospitalizations and deaths again, the drumbeat for additional stimulus may grow louder.

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