Many Americans got rebates, tax refunds, one-time stimulus payment, or other kinds of stimulus funding last year in about half the states in the US. However, several states still need to disburse funds from programs from the previous year, and a few are still taking applications or accepting acceptable tax returns.
The long-awaited determination on how state stimulus payments from the previous year would be taxed will impact the majority of people in 2023, with the IRS demonstrating too late why it’s not always a good idea to submit your taxes as early as possible.
Some states still have scheduled stimulus money until 2023. However, some are still taking applications or qualifying income tax returns, while others are delivering unpaid benefits to citizens who submitted applications before deadlines that have since passed.
The 2023 PFD filing period for Alaska is now open. Through March 31, residents may submit their applications online or personally at one of the state’s PFD offices. Residents of Massachusetts who qualify may still apply for a portion of the state’s 62F Taxpayer Refund.
Applications for ANCHOR property tax reduction had to be submitted by February 28 for eligible New Jersey residents. Residents of New Mexico who don’t regularly file tax returns are still eligible for $500 or $1,000 in rebates.
By the initial deadline of October 17, 2022, most qualified South Carolinians had already submitted their 2021 tax returns and received their 2022 reimbursements.
Stimulus Check 2023
It doesn’t appear like any federal stimulus money will touch bank accounts in March or any time shortly. This is the case despite hopes that some states would extend pandemic stimulus payouts to consumers to help them manage inflation.
Congress would need to adopt legislation enabling additional stimulus funding for another stimulus check to be issued in 2023.
Although receiving additional funds in stimulus relief checks to counteract inflation may seem like a good idea, it would have unexpected repercussions that would further fuel inflation.