Stimulus Updates To Know for Summer 2023
Ever since the pandemic struck in 2020, Americans have been bombarded with a variety of government-issued rebates, loans, tax refunds, one-off checks and otherforms of stimulus. Although the first series of payments were issued by the federal government, states took up the reins shortly thereafter, issuing their own range of payments. These later payments were often justified due to rising costs from the highest inflation rates in more than 40 years.
Federal stimulus payments generally ceased at the end of 2021, right when state stimulus was picking up in earnest. By the end of 2022, most state stimulus payments had also expired. However, in some very limited cases, some state distributions are still continuing as of Summer 2023. Many of these are simply lingering payments that are still making their way to residents who properly filed for them before the deadlines passed. But there are still a few states where residents can still receive a payment, and they are listed below.
Idaho
Idaho had two stimulus programs that qualifying residents could participate in starting in 2022. The first was a tax rebate of $75 per family member or 12% of the household’s tax liability on their 2020 tax return, whichever was greater. The second stimulus payment, dubbed the “Special Session Rebate,” amounted to the greater of $600 for joint filers ($300 for all others), or 10% of the household’s tax liability, again on the 2020 tax return.
For the most part, the Idaho stimulus payments have been already made. The first round of payments went out in March 2022, while the second round began in late September 2022. However, rebates continue to be processed as of Summer 2023 for those who filed their tax returns later.
Illinois
Illinois is another state that offered two types of stimulus payments in 2022 that are lingering into Summer 2023. The individual income tax rebate and property tax rebates – which could reach as high as a combined $700 – were issued in September of 2022. However, the state has to deliver more than six million payments and has indicated that it could take months and months to get them all delivered.
Qualification requirements and terms for both payments were a bit involved. The income tax rebate was only available to state residents with 2021 AGIs below $200,000, or $400,000 for joint filers. Filers had to submit their 2021 state tax returns by October 17, however, so although your check may still be in the mail if you’re an Illinois resident, the period for you to file has already passed. For the property tax rebate, residents must have paid Illinois state property taxes on their 2021 return and had an AGI below $250,000 or $500,000 for joint filers.
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Maine
The time to qualify for the Maine Winter Energy Relief Payment has passed, as residents had to have filed their 2021 state tax returns no later than Oct. 31, 2022. However, those who were eligible – non-dependents with AGIs below $100,000, $150,000, or $200,000, depending on filing status – qualified for a $450 payment, or $900 for eligible married couples. Payments began in mid-January of 2023 and have been mostly distributed. Eligible residents who have not yet received their payment can contact the state tax assessor before June 30 to prove their eligibility. Final payments for those that demonstrate their eligibility will go out until Sept. 30, 2023.
Massachusetts
The Massachusetts stimulus tax refund period is essentially over. Those who qualified were entitled to a refund of 14.0312% of their 2021 state income tax liability. Payments began on Nov. 1, 2022, and have for the most part been distributed. But if for some reason you haven’t yet filed your tax return, you have until Sept. 15, 2023, to get it in, after which you should receive your refund in about one month.
Montana
Montana is the only state that has new tax rebates going out in the second half of 2023. Residents may qualify for an income tax rebate, a property tax rebate, or both. The income tax rebate amounts to the lesser of your income tax as listed on your state tax form or $2,500 for joint filers ($1,250 for all other classifications). The property tax rebate is $500 for 2023 (and 2024) or the actual amount of property tax you paid, whichever is less.
Income tax rebates will be sent beginning in July and running until the end of 2023. To claim the property tax rebate, you must file online or via mail between Aug. 15, 2023, and Oct. 1, 2023.
New Mexico
New Mexico is another state offering fresh 2023 rebates, and they come in two varieties. The first is for those that file tax returns, while the second applies to residents that aren’t required to file a return. The amounts offered are $1,000 for joint filers and $500 for single filers or those that are married and filing separately. The anticipated payment dates for these two rebates are mid-June, 2023 and July 2023, respectively.
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