There will be thousands of Americans eligible for the $850 stimulus check set to be sent out in June of this year.
Residents in Maine are eligible for the payments.
This is a one time stimulus payment, but not everyone will qualify.
What three major requirements are there to get the stimulus payment?
You cannot be claimed as a dependent on someone else’s tax return.
Your AGI must be under $100,000 if you file as an individual, $150,000 as head of household, and $200,000 as a married couple.
This stimulus is thanks to a $1.2 billion dollar budget surplus.
Thanks to rising income tax revenue and federal funds from the pandemic, the surplus allows for stimulus payments.
Over half of this surplus is being dedicated to helping residents suffering from rising costs of gas and groceries.
There can be multiple checks sent to households, so if two adults qualify they will see $1,700.
Social Security recipients are eligible for the payment.
Eligible adults who did not file a state tax return
Not everyone needs to file a tax return, but that doesn’t mean they don’t qualify.
Low income earners and Social Security recipients are often not required to file tax returns.
These people have until Oct. 31, 2022 to go ahead and file a tax return to qualify.
The payments will not be deposited via direct deposit; they will go out as paper checks.
This is to help avoid errors and get the money out as effectively as possible.