Americans in some parts of the country are getting extra cash to help offset the still-burning inflation, with at least 16 states offering financial aid to residents struggling with more food, gas and rent.
Although consumer prices fell slightly in July, they still rosefrom a year ago — nearly four decades high and more than quadrupled the Federal Reserve’s target of 2%. This is what governors and state legislators are going to provide assistance to taxpayers in their states.
The state’s $308 billion budget includes $9.5 billion in direct repayments from up to $1,050 to 23 million residents, the governor’s office announced in late June (see eligibility information here).
Coloradans ages 18 and older who have lived in the state throughout 2021 will be required to pay tax credits of $750 for individuals and $1,500 for joint filers by Sept. 30, 2022, according to the state’s Department of Revenue.
According to the Delaware Department of the Treasury, relief payments of $300 will be issued this summer to offset higher grocery and fuel prices for residents who filed their 2021 tax returns on time.
State officials say abouts for $450 for each child, provided they met the eligibility criteria by July 1.
According to the state tax authorities, refunds of up to $500 are sent to taxpayers who filed their returns before the April 18 deadline due to excess state revenue.
Checks for as much as $300 will be issued by the end of August, with the amount of the refunds based on income, tax return status and exemptions, the Hawaiian Department of Taxation says.
According to the Idaho’s State Tax Commission, people who lived in Idaho in 2020 and 2021 are entitled to tax credits of $75 or 12% of their state taxes in 2020.
The state’s home help plan includes suspending a 1% sales tax on groceries until June next year, a brief cut in sales tax for back-to-school groceries, and a six-month freeze on the state’s motor fuel tax. Illinois also sends $50 rebates to residents earning less than $200,000 per year, and another $100 to up to three eligible dependents. State officials say the checks will be sent in September.
Indiana residents who have filed their 2020 and 2021 tax returns must pay a total of $325 via direct deposit or check. State officials also warn of possible scams via text messages, emails or phone calls related to the refunds.
Single filers in Maine are entitled to $850 and couples to $1,700 provided they earn less than $100,000 or $150,000, respectively, according to the state tax authorities.
Massachusetts residentsabout $2.5 billion in excess cash collected by the state, with people expected to receive a refund equal to 7% of their state tax payment in 2021.
About 800,000 parents are eligible for a $500 discount check under New Jersey’s approved June budget. It will also provide relief to 1.1 million homeowners and 900,000 renters, although details are still in the works.
Taxpayers earning less than $75,000 a year can get up to $750 in combined state rebates to help residents “compete with the rising price of gas, groceries and other household expenses,” officials say.
According to state officials, Oregon used federal pandemic aid to send payments of $600 to more 236,000 low-income households between June 23 and July 1, 2022, using direct deposits or mailed checks.
Residents filing tax returns before Oct. 17, 2022 can expect discounts of up to $800, with checks expected to be delivered in November and December, South Carolina tax officials say.
Residents who owe taxes for 2021 are eligible for as much as $500, as long as they file their previous year’s tax returns by Nov. 1, notes the Virginia Department of Taxation.