Stimulus Update: These States Issuing January 2023 Inflation Relief Checks

The Consumer Price Index (CPI) summary from the Bureau of Labor Statistics indicates that the year-over-year rate of inflation was 6.5 percent just at the end of last year, which is a decrease from November when this indicator was 7.1%.

Several states will keep sending inflation relief checks, also known as stimulus cheques, or tax refunds in January 2023 and beyond, even though inflation has decreased. These payments were approved last year to help people who were suffering from high prices.

Colorado

The IRS will pay up to $750 to taxpayers who asked for an extension to file their 2021 tax return, which was due on October 17.

Hawaii

Residents in Hawaii who made under $200,000 if filing jointly or $100,000 in 2021 should get a $300 one-time tax refund. Couples who made more than $200,000 and individuals who made more than $100,000 are eligible for a $100 reward.

While the issuance of direct deposits started at the end of August, taxpayers who submitted their 2021 state tax returns between July 31 and December 31, 2022, will get direct deposits up to 10 weeks later when the department of tax accepts your rebate, or 12 weeks if you desired a physical check.

Idaho

Brad Little, the Governor, approved a return of $600 in taxes. The payments started in September and will go on through January of the current year. Details about eligibility and filing a claim are provided here.

Massachusetts

Beginning in November, taxpayers began receiving refunds totaling around 14% of the state tax obligations. For those who submitted their 2021 tax return by October 17 of the previous year, a refund was issued in December. Taxpayers who claimed after September 15, 2023, and up until that date will get their money one month after doing so.

New Mexico

Residents of the state are still eligible for refunds of $1,000 for joint filers and $500 for single filers. To file their 2021 income tax return and be eligible for a refund, residents have until May 2023.

South Carolina

In November, South Carolina taxpayers began receiving income tax refund checks up to $800. The end of 2022 should have seen refunds for taxpayers who submitted their 2021 tax returns by October 17, 2022.

You will get your refund amount in March 2023 if they submitted their paperwork after the October 17 deadline for the extension but before February 15, 2023 reports As.