With the effects of inflation still being felt by Americans despite the start of global measures, many are desperate for any form of relief they can get. While the federal government has made it clear that stimulus checks will no longer be offered at this level for the COVID-19 crisis, some states will make it easier for residents to earn extra money when they file their taxes. through discounts.
Specifically, four states have, or have already, sent payments to eligible residents to help them combat still-high prices at the grocery store, gas pump and elsewhere. Here is where they were:
Recipients of the Taxpayer Bill of Rights (TABOR), a state law that requires refunds of excess tax revenue, sent checks for $750 to individual filers of 2021 tax returns and $1,500 to joint filers. The deadline for those who want payments later this year must file their 2022 returns by April 18, and those who are subject to state income tax or are requesting a payroll deduction refund have until until October 16 to file and be eligible for a TABOR refund.
By state law, the state must return to taxpayers a portion of excess tax revenue if revenue exceeds the annual tax revenue cap. The state announced last year that it had collected nearly $3 billion in excess taxes. So eligible taxpayers began receiving refunds in November, representing 14.0312% of their personal income tax, based on their 2021 returns. Those who have not yet filed their 2021 returns have until September 15, 2023 to do so in order to qualify for their refund.
Michigan Governor Gretchen Whitmer and Democratic state lawmakers have proposed a plan to send $180 checks for inflation relief to those filing for the 2022 tax year Filing singles would receive a check for $180 and married taxpayers filing separately would receive $90 each. Couples filing jointly would also receive $180. The proposal still needs to be approved and supported by Republican lawmakers to take effect.
The state’s ANCHOR benefit program, or “Affordable Communities of New Jersey for Homeowners and Renters,” will allow homeowners who earn up to $150,000 to receive $1,500 in property tax rebates, while those earning between $150,000 and $250,000 will receive $1,000, while renters earning up to $150,000 will receive a check for $450. Residents have until February 28 to apply for assistance.