The increase is due in part to rising oil coststhe Access Your Home's Equity Before It's Too Late! Fortunately, a number of states are distributing stimulus checks to low-income residents as an inflation relief measure. When you tell your money where to go instead of wondering where it went, you feel like you just got a raise. These days, individual state governments are launching their own stimulus check or related benefits for taxpayers. That's a jump from the 335,000 claims filed the week before, and it's also a much higher number than the 320,000 new claims economists were anticipating. This proposal to give a one-time tax rebate is yet to be approved by lawmakers. Given the way the Delta variant is wreaking havoc on many parts of the country, this news isn't all that surprising. Governor Laura Kelly made a budget amendment in April announcing a one-time $250 tax rebate to all Kansans who filed a 2020 tax return in 2021. Join here. Get browser notifications for breaking news, live events, and exclusive reporting. The government says its working to make the payment available to those who didnt file their taxes by the end of October. On the one hand, the economic situation seems to have declined in recent weeks. WebFRANKFORT, Ky. (AP) - Kentucky's Democratic governor has made a pointed plea for $2,000 COVID-19 relief checks, saying the larger direct payments would pump an extra $5 billion into the state's virus-damaged economy.Gov. The Senate has proposed a one-time tax rebate, while the House wants to reduce the income tax rate from 5% to 4%. Many states have gotten record sales tax revenue because of inflation. Coloradans 18-years and older who lived in the state for all of 2021 are due tax rebates of $750 for individuals and $1,500 for joint filers by September 30, 2022,accordingto the state's Department of Revenue. Indiana sent a first round of inflation relief checks of $125. Glen Youngkinn signed the budget this month that will see income tax refunds of up to $250 for individuals and $500 for married couples and eliminates the 1.5% state grocery tax. Idaho paid out $75 for each taxpayer and dependent or 12% of their 2020 taxeswhichever amount was biggerearlier this year. Do not buy or sell based on anything that is written here, the risk of loss in trading is great. You can check the status of your return here. "Is this in lieu of essential worker bonuses?" 2022 CBS Interactive Inc. All Rights Reserved. These days, individual state governments are launching their own stimulus check or related benefits for taxpayers. Rising inflation and gas prices are making it hard for people to meet all their needs. Several states are working on proposals to help residents offset the impact of inflation. Kentucky is the latest state to join this growing list, and a stimulus check from Kentucky could give residents a one-time tax rebate worth $500. Because of that, Colorado Cash Back checks of $750 for individual filers and $1,500 for joint filers went out to Colorado residents in September. You can expect to receive your check by Sept. 30 if you filed your taxes on time. The plan has already passed a Senate committee. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter. 5 The payments were part of the 2022 Delaware Relief Rebate Program. Relief checks of $50 for individuals and $100 per dependent up to three children per family will be sent out at a cost of $685 million. All rights reserved. In mintues, their "smart matching" system will provide tailor-made quotes from insurers that can meet all of your coverage needs - and your budget. Checks should have been delivered by the end of May to people who filed their 2020 and 2021 taxes. Single people making under $75,000 will get $350 and married couples making under $150,000 will get $700, if a couple has a dependent, that means they get an extra $350, which would total $1050. In fact, economists feared earlier this summer that rising case numbers would potentially lead business owners to start spending more conservatively and potentially eliminate jobs. The last federal stimulus check went out in 2021, but individual states are starting to come through with financial help for residents as record inflation continues to affect many Americans bottom lines and budgets. On top of that, their whole purpose isnt really to stimulate the economy here but instead to help people cover the high prices of gas and groceries. Andy's coverage includes technology and entertainment, and he has a particular interest in all things streaming. So, where did those surpluses come from? 2023 www.courier-journal.com. Single filers who earn between $38,000 and $100,000 can expect a one-time payment of $250, while married couples, who file jointly will receive $500. On the other hand, August's jobs reports pointed to the lowest national unemployment rate we've seen since the start of the pandemic. The governors proposal got shot down, but the state created a Frontline Worker Program that gave $487 to a little over 1 million Minnesotans who worked on the front lines during COVID-19.16, When New Jersey expanded the ANCHOR (Affordable New Jersey Communities for Homeowners and Renters) Tax Relief Program, it became one of the biggest relief programs in the history of the state. What!? A substantial 2022 budget surplus is also the focal point of a new bill in North Carolina that would put the money back in residents pockets. Families in Florida are getting a [one time payment of $450 per child] (https://www.flgov.com/2022/07/15/first-lady-casey-desantis-makes-major-announcements-to-support-the-hope-florida-a-pathway-to-prosperity-initiative/) for those eligible. We guide our loyal readers to some of the best products, latest trends, and most engaging stories with non-stop coverage, available across all major news platforms. Youre eligible if you filed a resident tax return for 2020 and 2021. We came to an agreement on that with the house last week, Sen. Damon Thayer, R-Georgetown said. It plans to spend $9.5 billion on direct payments of up to $1,050. The #1 best-selling indoor fly & insect trap is on sale at the lowest price ever. Getting quotes from multiple insurers used to be time-consuming, but today's technology makes it easy. Another issue driving some of this activity is the fact that states got billions of dollars in aid from the federal government during the Covid pandemic. For a single person who makes more than $100,000, or $200,000 in the case of a couple, the checks will be for $100. For the week ending Sept. 18, there were 351,000 new jobless claims filed. But it's also not a scenario we can write off. What does this keep out of the budget, potentially? This material does not take into account your particular investment objectives, financial situations or needs and is not intended as a recommendation to you of any particular securities, financial instruments or strategies. Illinois is also sending $50 rebates to residents who make less than $200,000 a year, and another $100 for up to three eligible dependents. This recap comes via The Motley Fool, which tabulated all of the aforementioned stimulus check-related announcements into the following rundown: Andy Meek is a reporter who has covered media, entertainment, and culture for over 20 years. As far as income goes, an individual must not exceed $100,000, while heads of the household and couples can make up to $150,000 and $200,000, respectively. Most Maine adults are eligible for the $850 payments, including people with little or no income, but you DO need to file a tax return. In the meantime, some Americans will be getting a stimulus of sorts in the form of monthly child tax credit payments. Half of the credit will be paid monthly, with the balance paid when recipients file their annual tax return. And while the Federal Reserve is doing what it can to control inflation, its moves could be pushing the country closer to a recession. September 30, 2022. The state of New Mexico is bringing out financial relief in the form of $750 stimulus. All rights reserved. Single filers will have had a federal adjusted gross income of less than $100,000, $150,000 if filing as head of household or The Senate budget committee chairman said he's sure conversations about a more comprehensive tax reform bill will begin soon, saying such a bill would originate in the House. Several other states are considering tax breaks and have legislation pending, including: Legislators in New Hampshire have proposed a one-time rebate of $25 to vehicle owners registered in the state between July 2021 and June 2022 to help with fuel costs. [CDATA[ (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }());]]]]>