Homestimulus checkStimulus Updates: Payment Dates, Why Don’t You See Another Stimulus – But You Can Still Get Old Checks Back
Stimulus Updates: Payment Dates, Why Don’t You See Another Stimulus – But You Can Still Get Old Checks Back
September 22, 2022
Some Americans will be getting payments soon, but don’t expect new stimulus from the government.
If you never received your stimulus, you can still recover it.
SNAP Benefits: Food Stamps in October, Eligible Earnings, and USDA Online Expansion of SNAP Use
Important stimulus dates
While the federal government has no plans to implement more stimulus measures, several states are issuing tax refunds. These refunds will go to residents due to a 2022 state budget surplus. Here are some upcoming payment dates to remember:
End of September: Tax credits are still being calculated for Massachusetts residents. However, it is estimated that individual taxpayers will get $250 and $500 for married couples.
September 30, 2022: Colorado began issuing refunds starting at $750 in August as part of the TABOR amendment. If you have not yet received your check, you must do so by September 30, as long as you have submitted your check by June 30.
October: California residents can expect a direct deposit or debit card in the mail sometime in October. The amount of each check depends on income, tax filing status, and the number of people living in your household.
The end of October: In September, residents of Hawaii began receiving instant deposits. According to Governor David Ige, paper checks will be sent by the end of October.
October 31, 2022: The Virginia Department of Taxation began sending out checks in mid-September. If you live in Virginia and filed your taxes before July 1, 2022, you qualify for a discount. If you haven’t already, you must do so before October 31. The amount can vary but can be up to $250 per taxpayer
Nov 1, 2022: Indiana residents get $325 per taxpayer. Some direct deposits started to run out in May. If you’re still waiting, get a paper check before November 1.
Nov 7, 2022: Illinois taxpayers may have already received a paper check. However, due to the updated legislation, more residents are eligible. The checks went out on September 12. The last checks were to be sent out before November 7.
End of November: South Carolina taxpayers receive refund checks worth up to $800 in late November or early December.
December 31, 2022: Pennsylvania residents may qualify for a tax credit through the state’s Property Tax/Rental Discount Program. You can register until December 31.
Important incentive dates 2023
January 31, 2023: If you live in Colorado and have not filed by June 30, you will still get your check if you applied for an extension. With an extension, you must apply before October 17, 2022. Then you will get your money back by the end of January 2023.
May 2023: The new Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) program sends our discounts based on 2019 income. It can go up to $1,500 for homeowners.
Will more stimulus checks be sent?
Stimulus checks were a financial incentive after the COVID-19 outbreak. The extra money was intended to help Americans make ends meet as the pandemic and inflation continued. Although gas and grocery prices are gradually falling, many American families are still struggling. With so many people still struggling, will the government give another stimulus?
The answer to that question is no. Congress cannot pass legislation similar to the US Rescue Plan Act until after the election. Reports show there isn’t enough support to pass a bill that approves another payment. The 2022 United States midterm elections will be held on November 8. It looks like the Democrats have a 71% chance of retaining control of the Senate. However, they only have a 27% chance of doing that with the House of Representatives.
5 Reasons Why Another Stimulus Is Highly Unlikely
The government issued stimulus checks during the 2020 and 2021 pandemic, helping many Americans through hard times and allowing others to build up savings. There are currently no incentive payments in the works – and neither will be in the near future. Here are five reasons why you shouldn’t expect a new stimulus check:
Congress can no longer pass stimulus packages — and even if they did, it could negatively impact our current economy.
Unemployment is low – during the pandemic the unemployment rate was 14.7%, but has fallen to 3.5% as of August.
Incentive money could prolong the labor shortage. Now that companies are open again, they need people to fill the vacancies, but many people have left the workforce.
Stimulus controls could increase inflation and rates are still at historic highs.
You can still use with the recovery discount credit
Although no new stimulus checks go out, you can get your stimulus back if you never received it. The government spent $931 billion in incentive checks in 2020 and 2021. Now, it’s been over a year and a half since the checks started going out, and some people still haven’t gotten it. If you still owe incentive money, you can claim the amount as a recovery discount on your 2020 or 2021 tax.
You are only eligible for the recovery discount credit if the IRS has not given you a stimulus payment or if you have received a partial payment. If you’re not sure you qualify, check the IRS’s Get My Payment tool.
Stimulus Checks: 3 States That Send Inflation Reducing Payments And Claim Your Missing Stimulus Payment
Abbi covers personal finance and consumer news with an emphasis on the stories that impact everyday life. Do you have a question or tip? Send it to [email protected]