Blog

Jul 12, 2023

4th stimulus check update 2023 — Direct payments worth up to $1,000 due to drop this month

NEW Mexico residents are set to receive income tax rebates of up to $1,000

NEW Mexico residents are set to receive income tax rebates of up to $1,000 starting in June.

The state will send the payments to residents who have filed their 2021 tax returns.

Single filers receive $500 while joint filers are in line for $1,000.

Those who filed their taxes electronically and opted to receive their tax refund electronically will also get the rebate as a direct deposit, while those who filed by mail will receive a check.

Direct deposits will begin to hit bank accounts on June 16, and checks will start being sent out in mid-June, too.

Follow our stimulus live blog for more news and updates...

Washington residents may be able to score one-time payments under the recently signed Working Families Tax Credit.

Nearly 400,000 residents are eligible for up to $1,200 in direct payments.

You can apply for the Working Families Tax Credit online and check if you are eligible by answering three questions.

You’ll definitely qualify if you have a valid Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN).

You also must have lived in Washington a minimum of 183 days in 2022 – over half the year.

Additionally, you’ll need to be at least 25 and under 65 years of age or have a qualifying child in 2022.

There is good news for Californians filing their taxes as the IRS has confirmed that Middle Class Tax Refunds (MCTR) will not be taxed.

The state issued more than 16 million payments to Californians ranging from $200 for singles up to $1,050 for families.

Although millions received 1099 tax forms saying they must report the payments as income, the IRS has ruled that no taxes are due on that income.

According to the State of California Franchise Tax Board (FTB): "The MCTR payment is not taxable for California state income tax purposes.

"You do not need to claim the payment as income on your California income tax return.

Californians can read the full advice on the FTB website.

A Working Families Tax Credit is now available to low-income Washington residents.

It is worth between $50 and $1,200 – the exact payment varies by income and number of dependents in the household.

For example, joint filers with two kids making less than $55,529 qualify for up $900.

To be eligible, you must be a parent who has lived in Washington State for at least half the year in 2022 and filed a federal tax return for 2022.

To claim, you can apply online via the Department of Revenue Washington State through December 31, 2023.

Various sectors are experiencing high rates of inflation, and gas is no exception.

After Russia invaded Ukraine, gas prices reached record levels.

While the costs have significantly come down since then, the $3.66 average cost per gallon in April 2023 was 54 percent higher than in early 2021.

Each year, Boulder, Colorado offers rebates to offset taxes paid on food.

Starting last month, eligible residents can apply online for the 2023 cash.

It is worth $99 for individuals and $302 for families this year.

Your income must not exceed $43,900 for individuals and $62,700 for a family of four.

Also, you must meet one of the following requirements:

A Working Families Tax Credit is now available to low-income Washington residents.

It is worth between $50 and $1,200 – the exact payment varies by income and number of dependents in the household.

For example, joint filers with two kids making less than $55,529 qualify for up $900.

To be eligible, you must be a parent who has lived in Washington State for at least half the year in 2022 and filed a federal tax return for 2022.

To claim, you can apply online via the Department of Revenue Washington State through December 31, 2023.

There is good news for Californians filing their taxes as the IRS has confirmed that Middle Class Tax Refunds (MCTR) will not be taxed.

The state issued more than 16 million payments to Californians ranging from $200 for singles up to $1,050 for families.

Although millions received 1099 tax forms saying they must report the payments as income, the IRS has ruled that no taxes are due on that income.

According to the State of California Franchise Tax Board (FTB): "The MCTR payment is not taxable for California state income tax purposes.

"You do not need to claim the payment as income on your California income tax return.

Californians can read the full advice on the FTB website.

A Working Families Tax Credit is now available to low-income Washington residents.

It is worth between $50 and $1,200 – the exact payment varies by income and number of dependents in the household.

For example, joint filers with two kids making less than $55,529 qualify for up $900.

To be eligible, you must be a parent who has lived in Washington State for at least half the year in 2022 and filed a federal tax return for 2022.

To claim, you can apply online via the Department of Revenue Washington State through December 31, 2023.

Since January 2021, the unemployment rate has massively reduced from 6.3 percent in January of that year to a 54-year low of 3.4 percent two years later.

However, some economic experts warn the jobs situation is precarious.

Industries from tech to construction are dealing with widespread layoffs, creating one of the worst states of job growth since 2020.

In March of this year, the unemployment rate grew to 3.5 percent, indicating what could be dark times ahead for the U.S. economy.

A recently passed bill will allow Minnesota residents to get up to $1,500 rebates on new e-bike purchases.

Eligible applicants can get $1,500 rebates or a 75 percent discount, whichever amount is less.

40 percent of the rebates will be set aside for those making below the state median household income level.

Those interested will be able to apply with the state Department of Revenue and then present the rebate at a local participating retailer.

The rebate application date has yet to be set.

The overall household financial health for the majority of Americans has deteriorated over the span of two years.

In the final quarter of 2022, Americans had, on average, saved only 4 percent of their disposable income.

That is a far cry from the 14 percent Americans on average saved the two years prior.

Household debt also grew by 16 percent to $16.9trillion, and poverty rates hit their highest levels since 2018 in 2021, Forbes reported.

Oregon will also suspend rebates for purchasing or leasing an EV for one year starting in May, according to Associated Press.

Drivers in states with active electric car incentives still have to wrestle with this year's newly-introduced regulations.

Only six pure EVs qualify for a full tax credit in 2023.

Drivers can receive a full credit by purchasing a new Cadillac Lyriq, Chevrolet Bolt, Chevrolet Bolt EUV, Ford F-150 Lightning, Tesla Model 3 Performance, or Tesla Model Y.

The 2022 Minnesota Property Tax Refund and Renters Refund programs are open for applications with the deadline set for August 15.

If eligible, Minnesota residents may get up to $2,930, but the amount varies depending on income or property tax levels.

This program is open to renters with an income of up to $119,790 and property owners who had a 12 percent or more property tax increase over the last year.

All claims must be filed through the Minnesota Department of Revenue.

Those who file their claim before August 15 will begin seeing the payments a little over a month after that date. Refunds can be tracked by using the Where's My Refund? system.

Thousands of struggling homeowners are getting help with missed mortgage payments during the pandemic from the California Mortgage Relief program.

Officials announced earlier this year that three new groups will be eligible for the aid: homeowners whose mortgages had a "partial claim" or deferral, those who missed a second mortgage payment after June 2022, and those with a primary residence that includes up to four units.

Homeowners who had previously received help from the state will be able to get more, as well.

A bi-annual energy credit could come early this year for millions of Californians.

The California Public Utilities Commission (CPUC) has ordered utility companies in the state to apply the Climate Credit to customers’ bills earlier than usual.

California requires companies that have a large carbon footprint to purchase carbon pollution permits from auctions run by the state's Air Resources Board.

To qualify, you must prove employment in meatpacking or farmwork between January 27, 2020, and the end of the COVID-19 emergency declaration on April 11, 2023.

In addition to Delaware, 13 other states and territories are offering the payment:

Frontline farm and food workers who braved the pandemic are eligible for $600 relief payments.

The Delaware Department of Agriculture has been working with Pasa Sustainable Agriculture to provide one-time relief payments to farmhands and meatpacking workers who labored during the pandemic.

Florida residents can get nearly $500 in cash this year and it could be in addition to $2billion in tax relief.

In December 2022, Governor Ron DeSantis signed a bill into law that will provide more than a million drivers with a toll credit.

It will give eligible residents in the state a 50 percent credit to their "account" each month, according to the law.

The direct cash is expected to be worth more than $480 on average through 2023, according to the Governor's office.

Two-axle vehicles will qualify and drivers must have toll accounts that are in good standing with the state.

Thousands of struggling homeowners are getting help with missed mortgage payments during the pandemic from the California Mortgage Relief program.

Officials announced earlier this year that three new groups will be eligible for the aid: homeowners whose mortgages had a "partial claim" or deferral, those who missed a second mortgage payment after June 2022, and those with a primary residence that includes up to four units.

Homeowners who had previously received help from the state will be able to get more, as well.

This month, Georgia is starting to issue its "Surplus Tax Refund" to eligible residents.

Those who filed solo will receive $250, while heads of household filers would get $375.

If you’re a couple filing jointly, your total payment comes out to $500.

Each year, Boulder, Colorado offers rebates to offset taxes paid on food.

Starting last month, eligible residents can apply online for the 2023 cash.

It is worth $99 for individuals and $302 for families this year.

Your income must not exceed $43,900 for individuals and $62,700 for a family of four.

Also, you must meet one of the following requirements:

A Working Families Tax Credit is now available to low-income Washington residents.

It is worth between $50 and $1,200 – the exact payment varies by income and number of dependents in the household.

For example, joint filers with two kids making less than $55,529 qualify for up $900.

To be eligible, you must be a parent who has lived in Washington State for at least half the year in 2022 and filed a federal tax return for 2022.

To claim, you can apply online via the Department of Revenue Washington State through December 31, 2023.

There is good news for Californians filing their taxes as the IRS has confirmed that Middle Class Tax Refunds (MCTR) will not be taxed.

The state issued more than 16 million payments to Californians ranging from $200 for singles up to $1,050 for families.

Although millions received 1099 tax forms saying they must report the payments as income, the IRS has ruled that no taxes are due on that income.

According to the State of California Franchise Tax Board (FTB): "The MCTR payment is not taxable for California state income tax purposes.

"You do not need to claim the payment as income on your California income tax return.

Californians can read the full advice on the FTB website.

A Working Families Tax Credit is now available to low-income Washington residents.

It is worth between $50 and $1,200 – the exact payment varies by income and number of dependents in the household.

For example, joint filers with two kids making less than $55,529 qualify for up $900.

To be eligible, you must be a parent who has lived in Washington State for at least half the year in 2022 and filed a federal tax return for 2022.

To claim, you can apply online via the Department of Revenue Washington State through December 31, 2023.

Since January 2021, the unemployment rate has massively reduced from 6.3 percent in January of that year to a 54-year low of 3.4 percent two years later.

However, some economic experts warn the jobs situation is precarious.

Industries from tech to construction are dealing with widespread layoffs, creating one of the worst states of job growth since 2020.

In March of this year, the unemployment rate grew to 3.5 percent, indicating what could be dark times ahead for the U.S. economy.