Due to soaring inflation, some Americans may struggle to pay the bill more than ever when the holiday season gets underway. According to a recent study, most Americans are worried about how they’ll be able to afford gifts this year as rising prices continue to strain many families’ budgets.
While it is unlikely that the federal government would issue another stimulus check, some states are providing direct grants to their citizens to assist them in dealing with growing prices.
California
Earlier this year, California approved direct payouts of up to $1,050 to assist residents in adjusting to inflation. According to the nation’s Franchise Tax Board, the Middle-Class Tax Refund program has already given out more than $5 billion.
Some winners won’t get their money till December or January. According to the government, direct deposit payouts for recipients of Golden State Stimulus funds from the previous year have already been made to bank accounts.
However, a debit card will be mailed from December 17 to January 14 to Californians who have altered their banking information since completing their 2020 tax return.
For people who previously received stimulus payments in this manner, debit cards will be mailed by December 10, and for everyone else, debit cards will be sent by January 14.
Colorado
Earlier this year, state legislators passed a law allowing direct tax return transfers to Colorado. Individual filers will receive a check for $750 under the Colorado Cash Back program, while joint filers will receive a payment of $1,500.
Most residents will have already received the costs, but those who filed for an extension and submitted their state tax return by the October 17 deadline can expect their payment by January 31, 2023.
New Jersey
One-time payments of at least $500 started going out to eligible New Jersey residents this month. The prices are being sent to residents who were not eligible for federal stimulus payments and filed 2021 state income tax returns using an Individual Taxpayer Identification Number. The costs will have already been sent to most residents.
Still, those who requested an extension and submitted their state tax returns by the deadline of October 17 can anticipate receiving their payments on January 31, 2023.
Residents of New Jersey who qualify began receiving one-time payments of at least $500 this month. The recipients of the payouts are those who filed state income tax returns for 2021 using an Individual Taxpayer Identification Number but were not eligible for federal stimulus monies, reports Newsweek.
Related Stories:
Stimulus Payments Dec. 2022: Alaska, Colorado, And Hawaii To Send Checks And Tax Returns, Check If You Are Eligible
Stimulus Checks Update 2023: These States Continue To Send Payments; Are you eligible?
Stimulus update 2022: California sending checks to residents, Check if you are eligible
4th Stimulus Check Update: 6 States, including Alaska, Colorado and Virginia to Send Out Payments This Month: Check if you are eligible
Stimulus Check Update 2023: Will The IRS Send More Checks
Idaho, Illinois, And New Jersey To Send Stimulus Payments, Check If You Are Eligible
Stimulus Checks 2022: California Tax Refund Payments Sent; Are You eligible?
Stimulus Checks 2022: States Distributing Payments include Ohio, California, New York
