Stimulus Update: Millions of Americans Due Stimulus Checks by the End of May

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KEY POINTS

  • Once it became clear that the federal government was not sending more stimulus, some states stepped in to fill the gap.
  • Income limits apply in most states.
  • The impact of COVID-19 may ripple through the economy for years.

This may be the last of state stimulus checks.

It's been nearly three years since the U.S. economy went into full shutdown. We knew very little about COVID-19, but many of us knew someone who died of the virus. Those who were able worked from home, and millions of us became accustomed to wearing pajama bottoms to Zoom meetings. Those who did leave the house to work were faced with the awful possibility of becoming ill.

As more businesses shuttered and unemployment rates soared, the federal government realized that COVID-19 had the potential to send the economy into a deep black hole. By March 2020, the CARES Act was signed into law. As part of that act, the majority of Americans received a stimulus check directly deposited into their bank accounts or via mail.

States also received stimulus funds. In all, the federal government sent three rounds of stimulus to the American people. When it became clear that no more checks would be forthcoming, some states decided to step in, sending funds to state residents.

Some of the following states began distributing stimulus checks in 2022. However, millions of residents have yet to receive the funds for various reasons. If your state is listed, check to see if your situation fits any of these scenarios.

California

The state of California reports that most relief payments of up to $1,050 were paid out by the end of 2022. However, about 5% will not be sent until Monday, Jan. 16. The amount received is based on a combination of income, the number of people in your household, and tax-filing status. As long as you are single earning less than $250,000 annually or a couple earning less than $500,000, you can expect to receive between $350 and $1,050.

Colorado

In Colorado, it's state residents who requested an extension to file their 2021 tax returns who are due to receive stimulus funds by the end of January. Single tax filers can expect $750, and joint filers are due $1,500.

Idaho

In 2022, Idaho legislators approved a special session rebate. By the end of March, taxpayers will receive $300 (for single filers), $600 (for joint filers), or 10% of their 2020 income tax liability -- whichever is greater.

New Jersey

By the end of May, 2 million New Jersey residents are due a property tax rebate. Homeowners earning up to $150,000 qualify for $1,500, while homeowners earning $150,000 to $250,000 can expect $1,000.

New Jersey is not leaving renters out of the loop. Renters who earn less than $150,000 are due $450.

Pennsylvania

Beginning Jan. 19, 2023, older and disabled Pennsylvanians can apply for rebates on property taxes and rent paid in 2022. The state encourages applicants who are able to use myPATH to submit their online applications. The maximum rebate is $650, but a supplemental rebate for qualified homeowners may boost that amount to $975.

South Carolina

South Carolina residents who filed their state income tax returns after Oct. 17, 2022 (but before Feb. 15, 2023), are due to receive a refund check of up to $800.

Who could have imagined that stimulus checks would be a topic of discussion nearly three years after the IRS sent the first check? The fact that states have determined that a need remains underscores the economic impact of the pandemic.

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