Will there be a 4th stimulus check from your country?


A photo of the economic stimulus check sent to US citizens during the Covid-19/Coronavirus quarantine.

LPETTET/Getty Images/iStockphoto

Many states had budget surpluses or excess money from COVID relief in 2022. This represents a windfall for many taxpayers who can expect one-time direct deposits well in time for the holidays. Yes, we to be already talking about the December holidays; when the first pumpkin spice hits store shelves, it’s time.

Save more: Back-to-school tips to help you cut costs
Find Out: This Credit Score Error Could Cost Millions of Americans

Who can look forward to a surprising tax refund? How much will it be? And when will you receive it? Find your state in the list below to find out which states will receive incentive payments, tax refunds, or other exemptions in September 2022.

Bonus offer: Open a new Citi Priority account by 9/23/23 and earn up to $2,000 in cash bonus after completing the required activities.

Hawaii

Aloha State residents will receive a one-time direct deposit tax refund on Friday, September 9, 2022. Households earning less than $100,000 per year receive $300 per person, and households earning more than $100,000 receive $100 per person.

Illinois

According to CNET, Illinois residents can receive up to $400 in tax credits starting next week. Individuals who earned less than $200,000 in 2021, and couples filing jointly who earned less than $400,000 will receive $100, plus $100 per dependent, for a total of $400 per family.

California

California residents will have to wait a little longer, as inflation checks will be sent out from October. Thanks to the state’s $97.5 billion budget surplus, the state sends out debit cards or issues direct deposits to taxpayers based on their income and family size. Officially considered the “middle class tax refund,” the payments could reach as high as $1,050 per family. Refunds are calculated based on your 2020 tax returns, KTLA reports.

Colorado

Taxpayers receive refunds of $750, or $1,500 for couples filing jointly, thanks to the state’s taxpayer statement, according to the Department of Revenue Tax Division. The checks went out in August, but if you haven’t received yours yet, you can check the status by calling 303-951-4996.

Bonus offer: Find a checking account that fits your lifestyle. Bonus offer of $100 for new customers with a checking account.

Indiana

Indiana residents will receive $325 per taxpayer because of higher-than-expected state revenue, according to a report on Indystar.com. Those receiving their direct deposit refund should have already received it. A round of audits was scheduled to take place in August but was postponed due to supply chain issues. The state is currently printing 1.7 million checks, which will be sent between now and October, according to CNET.

Massachusetts

The Massachusetts state auditor is still calculating how much taxpayers should receive thanks to the state’s revenue surplus. The accountant will reveal the figure on September 20, 2022. Governor Charlie Baker estimates the surplus could be “north of $2.5 billion,” according to WGBH. Refunds of hundreds of dollars, based on a taxpayer’s income, could be issued this fall.

New Jersey

Homeowners and renters in New Jersey can receive property tax credits based on their income. Homeowners who earn up to $150,000 get a $1,500 rebate on their property taxes. Those who earn between $150,000 and $250,000 will receive a $1,000 discount, according to CNET.com. Renters who make $150,000 or less get a check for $450. That’s the good news. The bad news is that New Jersey residents will have to wait a while for that money. New Jersey Treasury spokesman Jennifer Sciortino told Patch the checks would arrive “by May 2023.”

Bonus offer: Bank of America $100 bonus offer for new online checking accounts. See page for details.

New York

Residents of Manhattan and the other boroughs of New York City can enjoy real estate tax discounts of up to $150. Owners of single, two, or three-family homes who earned less than $250,000 in 2020 are eligible for the discount on their primary residence.

Homeowners in other areas of New York who qualify for a 2022 STAR credit or exemption and had income of $250,000 or less in the 2020 tax year may also qualify for a tax credit, according to the Department of Taxation and the Treasury. The amounts vary, but look for checks that will be mailed from the end of August.

Take our poll: Do you think student loan debt should be forgiven?
Discover: Credit scores remain at all-time high, but that could change as COVID-era stimulus programs end

Pennsylvania

As part of Pennsylvania’s Property Tax/Rent Rebate Program, Pennsylvania residents 65 years of age or older and widowed or 18+ with disabilities may qualify for an income-based tax credit. Pennsylvanians can receive a minimum of $250 and a maximum of $650. Residents must register here before December 31, 2022. According to the Pennsylvania Department of Revenue website, those who have received a discount can also receive an additional one-time bonus, which will be issued this fall by check or direct deposit.

More from GOBankingRates


Add a Comment

Your email address will not be published.