In the wake of the pandemic’s emergence in 2020, American citizens have encountered diverse types of government-provided economic aid, encompassing rebates, loans, tax reimbursements, and individual payments. Although federal stimulus disbursements ceased in 2021, a number of states have persisted in implementing their own stimulus initiatives.
Presently, during the summer of 2023, select states continue to disburse payments to qualifying residents who met the stipulated deadlines. Let us delve deeper into the states currently issuing tax rebates in the summer season. Let’s go over some of the options you may have access to depending on the states you live in, including dates and eligibility criteria.
Idaho’s Stimulus Programs: Updates on Tax Rebates
Idaho implemented two stimulus programs in 2022, aiming to provide economic relief. The initial program granted a tax rebate of $75 per family member or 12% of the household’s tax liability, determined by the 2020 tax return. The second payment, referred to as the “Special Session Rebate,” amounted to $600 for joint filers ($300 for others) or 10% of the household’s tax liability. While the majority of payments have already been disbursed, there are still pending payments in progress for residents who filed their tax returns at a later date.
Illinois’ Stimulus Payments: Updates on Tax Rebates
In Illinois, two types of stimulus payments introduced in 2022 are extending into the summer of 2023. These payments include the individual income tax rebate and property tax rebates, which together have the potential to reach a combined total of $700. However, given the substantial number of payments to be distributed—over six million—the state anticipates that the process will span several months. To be eligible for the income tax rebate, individuals needed to have an adjusted gross income (AGI) below $200,000 in 2021 (or $400,000 for joint filers). Similarly, the property tax rebate required payment of Illinois state property taxes on the 2021 return and an AGI below $250,000 (or $500,000 for joint filers).
Maine’s Winter Energy Relief Payment: Updates on Distribution
The qualifying period for the Maine Winter Energy Relief Payment has concluded, necessitating residents to have filed their 2021 state tax returns by no later than October 31, 2022. Qualified non-dependents with adjusted gross incomes (AGIs) falling below specific thresholds were eligible to receive a payment of $450, while eligible married couples could receive $900. Most payments commenced in mid-January 2023 and have already been disbursed. However, eligible residents who have yet to receive their payment have the option to contact the state tax assessor before June 30 to establish their eligibility. Final payments for those who can verify their eligibility will continue to be processed until September 30, 2023.
Massachusetts’ Stimulus Tax Refund: Updates on Distribution
The majority of the stimulus tax refund period in Massachusetts has come to a close. Qualified residents were eligible for a refund equivalent to 14.0312% of their 2021 state income tax liability. Distribution of payments commenced on November 1, 2022, and has been largely completed. Individuals who have not yet filed their tax returns still have the opportunity to do so until September 15, 2023. Once the returns are filed, they can anticipate receiving their refund in approximately one month.
Montana’s Tax Rebates: Updates for the Second Half of 2023
Montana distinguishes itself as the sole state to introduce new tax rebates scheduled for the latter half of 2023. Residents have the opportunity to qualify for an income tax rebate, a property tax rebate, or both. The income tax rebate is calculated as the lesser of the income tax indicated on the state tax form or $2,500 for joint filers ($1,250 for others). On the other hand, the property tax rebate amounts to $500 for both 2023 and 2024, or the actual sum of property tax paid, whichever is lower. Income tax rebates will be distributed from July until the end of 2023. To claim the property tax rebate, residents must submit their applications online or via mail between August 15, 2023, and October 1, 2023.
New Mexico’s Rebate Programs: Updates for 2023
New Mexico presents two new rebate programs in 2023, catering to different groups of residents. The first rebate is available for individuals who file tax returns, while the second rebate is designed for residents who are not obligated to file taxes. The rebate amounts for these programs are set at $1,000 for joint filers and $500 for single filers or those married and filing separately. The anticipated payment dates for these two rebates are mid-June 2023 for tax filers and July 2023 for non-filers.