Some Americans will be getting payments soon, but don’t expect another government stimulus.
If you never received your stimulus, you can still recover it.
Important stimulus dates
Although the federal government doesn’t have any plans to issue more stimulus checks, several states are issuing tax refunds. These refunds are going to residents because of a 2022 state budget surplus. Here are some upcoming payment dates you’ll want to remember:
- Late September: Tax rebates are still being calculated for Massachusetts residents. However, it is estimated that individual taxpayers will get $250 and $500 for married couples.
- September 30, 2022: Colorado began issuing refunds starting at $750 in August as part of the TABOR amendment. If you haven’t received your check yet– you should by September 30, as long as you filed by June 30.
- October: California residents can expect to see a direct deposit or a debit card in the mail sometime in October. The amount of each check will vary based on income, tax-filing status and the amount of people living in your household.
- Late October: In September, Hawaii residents started receiving direct deposit refunds. Paper checks will start getting mailed in late October, according to Governor David Ige.
- October 31, 2022: The Virginia Department of Taxation started sending checks in mid-September. If you live in Virginia and filed your taxes before July 1, 2022 you are eligible for a rebate. If you haven’t yet, you should by October 31. The amount will vary but could be as much as $250 per taxpayer
- November 1, 2022: Indiana residents will be getting $325 per taxpayer. Some direct deposits started going out in May. If you’re still waiting, you should receive a paper check by November 1.
- November 7, 2022: Illinois taxpayers may have already received a paper check. However, the updated legislation makes more residents eligible. Checks started going out September 12. The last of the checks should go out before November 7.
- Late November: Taxpayers in South Carolina will receive refund checks worth up to $800 in late November or early December.
- December 31, 2022: Pennsylvania residents may qualify for a tax rebate through the state’s Property Tax / Rent Rebate Program. Applications are open until December 31.
Important stimulus dates 2023
- January 31, 2023: If you live in Colorado and didn’t file by June 30, you will still get your check if you filed an extension. With an extension, you must file by October 17, 2022. Then, you will get your refund by the end of January 2023.
- May 2023: The new Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) program will send our rebates based on 2019 income. It could be as much as $1,500 for homeowners.
Will more stimulus checks be sent?
Stimulus checks acted as a financial boost following the COVID-19 outbreak. The extra money was intended to Americans make ends meet as the pandemic and inflation raged on. Although gas and groceries prices are gradually falling, many American families are still struggling. With so many people still struggling, will the government issue another stimulus?
The answer to that question is no. Congress can’t pass a legislation similar to the American Rescue Plan Act until after the election. Reports reveal that there is not enough support to vote a bill that would approve another payment. The 2022 United States midterm elections will be held on November 8. It appears that Democrats have a 71% chance of keeping control of the Senate. However, they only have a 27% chance of doing that with the House.
5 reasons another stimulus is very unlikely
The government issued stimulus checks in 2020 and 2021 during the pandemic, helps many Americans through tough times and allowed others to build savings. There are no stimulus payments in the works right now– and there won’t be in the foreseeable future either. Here are five reasons you should not expect to see another stimulus check:
- Congress can’t approve any more stimulus packages– and even if they did it could have a negative impact on our current economy.
- Unemployment is low– during the pandemic unemployment was at 14.7% but is down to 3.5% as of August.
- Stimulus money could prolong the labor shortage. With businesses open again, they need people to fill the positions– but lots of people have left the workforce.
- Stimulus checks could increase inflation, and rates are still historically high.
You can still using with the recovery rebate credit
Although no new stimulus checks are going out, you can recover your stimulus if you never received it. The government issued $931 billion in stimulus checks in 2020 and 2021. Now, more than a year and a half has posed since checks started going out, and some people still haven’t gotten it. If you are still owed stimulus money, you can claim the amount as a recovery rebate tax credit on your 2020 or 2021 taxes.
You qualify for the recovery rebate credit only if the IRS didn’t give you a stimulus payment, or if you received a partial payment. If you’re not sure if you qualify, check the IRS’s Get My Payment tool.