In an effort to provide relief for hardworking Americans during historic levels of inflation in the United States, some states have approved stimulus checks or tax refunds as inflation relief. The stimulus checks continue to be sent in February 2023, providing a much-needed boost to citizens’ finances.
According to AS, stimulus checks continue to be sent as part of inflation relief program. Yahoo Finance also released an update about the 2023 State Inflation Relief.
Which States Are Offering Inflation Relief Through Stimulus Checks in February 2023 and What are the Amounts Being Paid?
According to The State of California Franchise Tax Board, the California Middle-Class Tax Refund has helped 31,650,087 taxpayers and their dependents, with most of the payments already distributed. However, some payments that need further review are still being processed. The weekly updates on the data will not continue as there will not be a significant change in the total amount. California residents will receive the Middle-Class Tax Rebate of up to $1,050 in February 2023. The payments began in October and continue this month. The next update is set for February 22, 2023.
Governor Brad Little approved the issuance of $600 tax refunds, with the process starting in September and continuing into 2023 as taxpayers file their returns and become eligible. Additional information regarding the Idaho tax refund is available. Payments began in September and continue into 2023 as taxpayers file their returns. The Idaho State Tax Commission is also providing updates about details of the tax refunds.
Massachusetts taxpayers can receive a refund of approximately 14% of their state tax liability, with payments beginning in December for those who filed by October 17, 2022, and one month after filing for those who filed after. Taxpayers can consult more details on the state website.
Hawaii residents earning less than $100,000 ($200,000 if filing jointly) will receive a one-time tax refund of $300. Individuals earning more than $100,000 and couples earning more than $200,000 qualify for a payment of $100. Direct deposits began in August, but taxpayers who filed between July 31 and December 31, 2022, will receive direct deposit up to 10 weeks after their tax return is accepted or 12 weeks if they requested a physical check.
In New Mexico, residents can receive a refund of $500 for single filers and $1,000 for joint filers by filing their 2021 income taxes by May 2023.
South Carolina taxpayers are eligible for a refund of up to $800, with payments beginning at the end of last year. Those who file after February 15, 2023, will receive their refund in March.
About 2 million New Jersey households are eligible for property tax refunds, with homeowners making up to $150,000 receiving $1,500, those making between $150,000 and $250,000 receiving $1,000, and tenants earning up to $150,000 receiving $450. Refunds will arrive no later than May 2023.
In conclusion, although inflation has fallen in recent months, some states continue to support their citizens in the form of stimulus checks and tax refunds. These stimulus checks provide relief and support to those families affected by the rise of inflation rates.
RELATED ARTICLE: $1,700 New Stimulus Check Rolling Out in 9 States – Check Your Eligibility Now