Stimulus Update: More Stimulus Money Is Coming in 2023
Americans awaiting stimulus checks from the federal government have long endured disappointment. Direct payments to people’s bank accounts have not been allowed since the U.S. Relief Plan Act was enacted soon after President Biden took office in early 2021.
Additional federal funds are not expected to arrive anytime soon due to the lack of bipartisan support — although some lawmakers are pushing ahead with more help for parents.
According to a published post by The Ascent, that’s bad news. The good news is that millions of people could still receive stimulus payments in 2023. The money could come from here.
Stimulus Update: More Stimulus Money Is Coming in 2023. Here’s Who Will Get It
Some states continue to provide financial relief to their residents despite failing to respond to federal stimulus measures. And this trend will continue until 2023. Next year’s remittance will go to:
• California: While many payments to California’s Golden State have already ended, approximately 5% of eligible Californians are still waiting. Final payments are expected to be made to state residents at the end of next month. Payments are worth up to $1,050, and the amount you receive depends on your income and dependents.
• Colorado: Payments of up to $1,500 for joint taxpayers and up to $750 for individual taxpayers will be sent to Colorado residents who have not yet received them due to late filing of their tax returns. The remaining payments are expected to be sent by January 31, 2023.
• Idaho: Eligible Idaho residents will receive a payment equal to 10% of the amount reported on their 2020 tax return, or $300 or $600 for individual or joint claimants.
• South Carolina: South Carolina residents can pay up to $800. Those who filed tax returns by October 17, 2022 will receive these payments by the end of 2022, while those who filed extended tax returns by February 15, 2023 will receive these payments by 2023. You will receive payment in March.
If you live in one of these locations, you should check your state’s regulations to determine if you’re eligible for the stimulus fund and if you can expect to see a payout in your bank account the following year.
