Stimulus Check 2023
It seems like every time a stimulus check is sent out, there’s a five-second pause before someone asks, “So . . . will there be another stimulus?” (Reminder: The third stimulus check was sent out in March 2021). If you’re one of those people who wonder if a fourth stimulus will happen, we’ve got your answer: Yes. . . kind of. It’s true, a fourth stimulus check is happening—but only if you live in certain states in America.
Are 4th Stimulus Checks Really Happening?
They are—but they’re not coming from the federal government as the last three stimulus checks did. This time, it all depends on what state you live in. That’s right, these four stimulus checks are being given out to some folks at the state and city levels now.
Back when the American Rescue Plan rolled out, all 50 states were given $195 billion ($500 million minimum for each state) to fund their own economic recovery closer to home.1 That’s a lot of dough. But here’s the catch: they don’t have forever to spend that money. The states have to figure out what to spend the money on by the end of 2024. Then they have until 2026 to use up all that cash.2 Those deadlines might sound super far away, but the clock is ticking here.
Will There Be Another Federal Stimulus Check?
Most people agree that getting another big stimulus check from the federal government is a long shot at this point. Still, some lawmakers keep pushing for another stimulus check to help Americans rebuild thanks to COVID-19. And with the Delta and Omicron variants out there, would another stimulus check happen for everyone? You never know. Only time will tell, really. Many people didn’t think we’d see a third stimulus check either—but it happened.
With the economy and jobs both on the upswing, the need for a stimulus check is less than since the pandemic started. Not to mention, many people get extra cash each month from the Child Tax Credit. Add all of that up and it’s easy to see that there might not be another stimulus check. But if there is one, don’t worry—we’ll let you know.
Baby Stimulus Check 2023
This is an additional benefit for USA parents or guardians. Depending on your income, you can hope for several tax benefits and deductions as a parent or guardian. For 2023, the maximum Child Tax Credit per eligible kid is $2,000 for those under five and $3,000 for those between six and seventeen.
The amount is different according to the child’s income and age, but the maximum amount for CTC is $2,000. There is also a condition that the child’s age should not be more than 5 years. Parents or guardians living with children of age between six and seventeen can only get a benefit of up to $3,000.
Golden State Stimulus Check 2023
California provides the Golden State Stimulus for families and individuals who qualify. This is a stimulus payment for certain people filing 2020 tax returns. The Golden State stimulus aims to:
- Support low- and middle-income Californians
- Help those facing hardship due to COVID-19
For most Californians who qualify, you do not need to do anything to receive the stimulus payment except file your 2020 tax return.
There are two different stimulus payments. You may qualify for one or both of them. Visit the boxes below for more information regarding Golden State Stimulus I and II.
Golden State Stimulus I
California will provide the Golden State Stimulus payment to families and individuals who qualify. You may receive this payment if you file your 2020 tax return and receive the California Earned Income Tax Credit (CalEITC) or file with an Individual Taxpayer Identification Number (ITIN).
Golden State Stimulus II
California will provide the Golden State Stimulus II (GSS II) payment to families and individuals who qualify. You may receive this payment if you make $75,000 or less and file your 2020 tax return.
How Have Americans Spent Their Stimulus Checks?
There have been three—count them—three wide-reaching stimulus checks from the government since the pandemic hit. And now that a lot of time has passed by since they dished out the first one, we’re seeing how people spent that money. Our State of Personal Finance study found that of those who got a stimulus check:
- 41% used it to pay for necessities like food and bills
- 38% saved money.
- 11% spent it on things not considered necessities
- 5% invested in the money
And on top of that, here’s some good news: Data from the Census Bureau shows that food shortages are down by 40% and financial instability shrank by 45% after the last two stimulus checks.25 That’s a big deal. But the question here is—if people are in a better spot now, will they be more likely to manage their money to ensure things stay that way?
List of Fourth Stimulus Checks Approved in 14 States
As inflation rises, many states have begun sending aid to their taxpayers. Recently, over 14 states approved a fourth stimulus check. Despite this, this stimulus check will differ from previous COVID-19 pandemic relief measures. These payments will encompass a wide variety of monetary payouts and targeted locations. Government officials aim to ease COVID-19 and inflation financial burdens.
States That Are Eligible
Forbes Advisor lists 14 states eligible including:
- California
- Colorado
- Delaware
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Maine
- New Jersey
- New Mexico
- Minnesota
- South Carolina
- Virginia
Each state provides ways to qualify for relief payments. Learn more about the additional states that are currently working to approve the stimulus.
Additional Rebates
Energy Rebate
One way government officials have begun to step in is through the Gas Rebate Act of 2022. The act would rebate energy payments of $100 per month. This would be available to eligible taxpayers in all states by 2022. Dependents are also eligible for an additional $100 a month.
The payment structure would be similar to the previous stimulus plans. This would allow married filers to receive the full payment with incomes up to $150,000 and single filers earning up to $75,000. However, Congress is still discussing the possibility of offering payment plans in this manner.
Tax Rebates
The 14 states have begun offering tax rebates to their residents which will vary in each state, based on the available funds. While each state considers different ways of payout, many do so through tax rebates, passing bills, grocery tax cuts, and an additional budget surplus within the state.
Frontline workers
States could limit the fourth stimulus check to frontline workers. States will require a certain income standard for working with COVID-19 patients.
Unemployed workers
In addition, states will also limit the funds to unemployed workers between specific dates. This is for state residents who were unable to work due to COVID-19, as well as access to remote work.
What’s Next For Americans
With the additional measures being taken, there are many steps to this funding initiative. Legislators must push relief through each state. While implementing gas rebates, tax stipends, and stimulus checks benefits employees, rising inflation still concerns them. The additional rebates will be crafted by each state and have different requirements for allocation.
What states are getting the new stimulus check in August 2023?
7 States Considering More Stimulus Checks in 2023
Back in 2020, things were looking bleak with the Covid-19 pandemic raging and uncertainty about what was next. Then, there was some light in the midst of all the darkness. This was when it was announced that stimulus checks would be sent out to Americans who were in dire financial straits due to the global shutdown.
While economic stimulus checks were sent out to Americans several times over the course of the pandemic, it looks like the federal government isn’t looking to send them out anymore. However, some states plan to send stimulus checks in 2023.
Here is a list of states considering more stimulus checks. See whether your state is on the list and whether you qualify for stimulus support.
California
Estimated Amount: $200 to $1,050, depending on your income, filing status, and whether you have dependents. Check with the California Franchise Tax Board for the necessary qualifications.
Residents of the Golden State might be familiar with California stimulus payments, once called “Middle-Class Tax Refunds,” which are available to citizens who filed 2020 California state tax by Oct. 15, 2021, and lived in California full-time for a minimum of six months in 2020.
As long as Californians couldn’t be claimed as 2020 tax dependents on someone else’s return and did not exceed California adjusted gross income limit — $250,000 for single people and married couples filing separate tax returns or over $500,000 for others – chances are payment is on the way in the first half of 2023.
Idaho
Estimated Amount: Greater than (1) $75 per family member or (2) 12% of the tax liability before credits, “other” taxes, and payments for the first year’s rebate. Equal to the greater of (1) $600 for married couples filing a joint return or $300 for all other filers, or (2) 10% of the 2020 tax liability before credits, additional taxes, payments, and donations.
It’s complicated math that adds up to a substantial sum for Idaho residents. Last year, the state issued two tax rebates for full-year residents who filed Idaho state income taxes for 2020 and 2021 by 2022. Rebate payments will be sent throughout 2023 when Idaho residents filed tax returns in 2022.
Maine
Estimated Amount: $450 for single filers, $900 for joint filers on 2021 state tax returns.
There’s an updated payment for 2023 for Maine residents who live in the state full-time. They file a tax return for 2021 no later than Oct. 31, 2022. It’s called the “Winter Energy Relief Payment.” As long as the federal adjusted gross income (AGI) reported on the 2021 Maine tax return was less than $100,000 (single taxpayers and married couples filing separate returns), $150,000 (heads of households), or $200,000 (married filers with joint returns), taxpayers might qualify for payments sent no later than March 31, 2023.
New Jersey
Estimated Amount: Dependent on 2019 income and whether residents were homeowners or renters that year.
The ANCHOR Tax Relief Program will send rebates of $1,500 to New Jersey residents who owned homes in 2019, with a total income of $150,000 or less in 2023. Homeowners with household incomes from $150,001 to $250,000 should expect $1,000 payments. New Jersey renters with a 2019 tax return showing $150,000 or less can qualify for a $450 rebate.
New Mexico
Estimated Amount for 1st Rebate: $500 for filers who are joint, head of household, or surviving spouse filers with 2021 incomes below $150,000, and $250 for single residents and married couples with separate 2021 tax returns.
Estimated Amount for 2nd Rebate: $1,000 for joint, head of household, and surviving spouses filers, and $500 for single residents and married couples filing separately in 2021.
Nope, you’re not seeing double: New Mexico has rebates planned for residents in 2023. As long as you file a 2021 New Mexico state tax return by May 31, 2023, and remain unclaimed as a dependent on someone else’s return, you might be eligible for the first stimulus payment.
The second stimulus is part of a bill set to be passed at the end of March.
Pennsylvania
Estimated Amount: $250 to $650 for qualifying homeowners, $500 to $650 for eligible renters, and up to $975 for certain senior citizens.
If you are a Pennsylvania resident at least 65 years of age, a widow(er) at least 50, or a person with disabilities at least 18 years old, you might be able to apply for a stimulus payment under the “Property Tax/Rent Rebate” program. The annual income limit is $35,000 for homeowners and $15,000 for renters.
Also note that 50% of Social Security benefits are excluded, as well as a reduction to 70% of any 2021 property tax rebate.
South Carolina
Estimated Amount: This depends on your filing status for 2021 South Carolina income tax liability, minus credits, with the rebate amount capped at $800.
Due to Hurricane Ian, South Carolina rebates are delivered in two phases. This is depending on the date you file your tax return in 2021 with South Carolina.
People who filed by Oct. 17, 2022, will already have the money. Those who missed the deadline but filed before Feb. 15, 2023, should receive checks by March 31, 2023.
If you’re a South Carolina resident and wondering about the status of your check, use the South Carolina Department of Revenue’s tracker to keep an eye out for your rebate.
Are stimulus checks taxed?
As an added bonus, stimulus payments are not taxable to the IRS. This gives you more money to work with when paying your bills, building your savings account, or otherwise spending your stimulus money.
The Bottom Line
If you’re fortunate enough to receive financial assistance from your state this year, make a plan for how to utilize the stimulus money. Even a small amount can help prevent late payments from dinging your credit report. This is if you use it to make at least the minimum payments on your credit cards before the due date.
Getting a big stimulus payment? Consider paying down high-interest credit card debt to improve your credit score. You could also use the money to boost (or start) an emergency fund to prepare for unexpected expenses and economic ups and downs. Keeping your credit score in high shape will also help you weather economic storms. Consider signing up for Experian’s free credit monitoring service to track your score; you’ll be able to get alerts of changes to your credit report to prevent identity theft.
Which states are sending more rebate checks?
Stimulus checks have become a significant component of economic relief efforts, providing financial support to individuals and families during times of economic uncertainty.
As we enter 2023, some states in the United States are taking additional measures to boost their economies and relieve their residents. This is done by issuing additional rebate checks. In this article, we will explore states that send more rebate checks as part of their stimulus efforts.
Which states are sending more rebate checks?
California:
California has been at the forefront of stimulus efforts, and in 2023, it continues to provide financial relief to its residents. The state is sending additional rebate checks to eligible individuals and families as part of its economic recovery plan. These checks aim to stimulate spending and support local businesses, providing a much-needed boost to California’s economy.
New York:
New York is another state that has sent additional rebate checks to its residents. The state government recognizes the ongoing economic challenges faced by its citizens and seeks to alleviate financial burdens by providing extra financial assistance. These rebate checks are designed to support individuals and families as they navigate recovery.
Texas:
Texas has joined the ranks of states sending more rebate checks in 2023. Recognizing the impact of the pandemic on the state’s economy, Texas aims to provide direct financial support to its residents. These rebate checks offer relief to individuals and families, helping them meet their immediate needs and contributing to the state’s economic recovery.
Florida:
Florida is also implementing measures to support its residents through additional rebate checks. The state government recognizes the importance of financial assistance during challenging times. Rebate checks are intended to relieve and stimulate economic activity.
These states’ efforts to send more rebate checks reflect their commitment to supporting their residents and promoting economic recovery. By providing direct financial assistance, they aim to alleviate financial strain experienced by individuals and families, ultimately stimulating local economies and boosting consumer spending.
As we move into 2023, several states in the United States are taking proactive steps to provide additional stimulus through rebate checks. States like California, New York, Texas, and Florida recognize the importance of supporting their residents during challenging times.
It is imperative to stay informed about the specific eligibility criteria and distribution processes for these rebate checks within each state, as they may vary.
Will (Social Security Disability) SSI Get A Fourth Stimulus Check in 2023?
You may have read articles or watched videos posted online during the last quarter of 2022 that promised a fourth round of stimulus payments. Once you click on the article or video, it takes a few minutes before the “expert” acknowledges that it takes an act of Congress to authorize the payments and provide the funding needed for a stimulus SSI check-in in 2023.
London Eligibility advocates pride themselves on providing you with accurate information about Supplemental Security Income, Social Security Disability Insurance, and other benefit programs available through the Social Security Administration. Instead of speculation, our disability advocates use their experience with Social Security programs and knowledge of laws and regulations. They give you honest advice and representation that you can trust and rely on.
This article looks at the stimulus checks people received in the early stages of the pandemic. It also looks at how Congress has not yet made it possible for SSI to get a fourth stimulus check in 2023. There are, however, programs in 18 states offering taxpayers a tax rebate or other form of payment. This is to ease the financial burden of rising prices for consumer products and services.
Federal stimulus programs
During the early days of the COVID-19 pandemic, when it became clear that people were suffering economic harm from unemployment caused by businesses suspending operations, Congress passed legislation authorizing stimulus payments. The first round of payments began in March 2020 with each eligible adult receiving $1,200 with another $500 for each child under age 17. Some people got less than the full $1,200 payment if they had $75,000.
Another round of payments was authorized in December 2020. Adults and qualified children younger than 17 received $600. The income limits applied to the first round also apply to December 2020 payments.
When the Trump administration took office in 2021, Congress passed the American Rescue Plan Act of 2021. The law authorized payments of $1,400 for individuals and $2,800 for married couples filing a joint income tax return. There was also a $1,400 payment for dependents, including adult dependents.
According to the Internal Revenue Service, which was tasked with getting the stimulus payments into the hands of eligible people, all payments for the three rounds have been issued. If you were eligible for a payment and did not receive it, you could claim a Recovery Rebate Credit on your 2020 or 2021 federal income tax returns. You may have to file an amended return for either or both tax years if you already filed without claiming the credit.
State-Funded Stimulus Programs Started in 2022
Although the federal government has not authorized stimulus payments, if you receive an SSI check in 2023, you may be entitled to money from the state where you live. Eighteen states have programs to provide rebates to taxpayers or other one-time payments to provide financial assistance to their citizens who may be having difficulty making ends meet with inflation making consumer goods and services so expensive. Some of the states offering programs include:
California: People who filed a state tax return for the 2020 tax year are eligible for a middle-class tax refund that could be as much as $1,050. Payments should be issued by January 2023.
New Jersey: If you were a homeowner or renter in the state on October 1, 2019, you may be eligible for a tax relief program. Depending on your income, you could receive as much as $1,500 when payments are processed in 2023.
Virginia: If you paid income taxes in Virginia in 2021, you could qualify for a rebate of $500.
Keep in mind that the 18 states that have programs have no connection with the federal stimulus programs in 2020 and 2021. It will take an act of Congress for a fourth round of federal stimulus payments to be authorized and funded.
You May Get Extra SSI Check-in 2023 During Some Months
You may receive more than one monthly SSI check-in in 2023, but it has nothing to do with stimulus payments. As a general rule, SSI benefits are paid once a month on the first day of the month. However, when the first day of the month is on a weekend or a federal holiday, your SSI payment will be processed the last business day before the first day of the month.
For example, January 1, 2023, fell on a federal holiday and a Sunday. This means SSI beneficiaries received their monthly payments on December 30, 2022, which means you got two checks that month. The purpose of doing payments in this manner is to avoid delaying payments that people on SSI depend upon to pay for food and shelter.