Is there going to be a fourth stimulus check? If you qualify for benefits granted in some states, you could end up with a lot more money in your bank account. According to Newsweek, residents of select states may be entitled to additional payouts ahead of the nationwide tax filing deadline.
While the third batch of stimulus cheques was mailed to eligible Americans last year, those who did not receive one may be able to apply before the April 18 tax filing deadline.
IS THERE A FOURTH CHECK FOR STIMULUS?
Furthermore, according to Newsweek, several states have passed legislation that will offer residents more outstanding monetary payments once their taxes are filed. In March, Governor Brian Kemp of Georgia approved a measure that will provide additional cash to qualified Georgia residents once they file their taxes.
In a statement, the governor’s office said that “HB 1302 will provide a one-time tax credit for taxpayers who submitted income tax returns for both the 2020 and 2021 taxable years.” They also added that the state revenue department will issue the additional credit whenever a taxpayer files their taxes for 2021. Filers who are single will receive $250, while married couples will receive $500. A $375 payment will be sent to a taxpayer deemed the head of household.
For Some Tax Filers, a Fourth Stimulus Check Will Arrive
According to Newsweek, similar legislation was enacted in Indiana, with Gov. Eric Holcomb announcing that eligible state residents will receive an “Automatic Taxpayer Refund” after filing their 2021 taxes.
“In December, the Governor stated that an estimated 4.3 million taxpayers will receive a $125 refund when they file their 2021 taxes. A total of $545 million will be returned to Indiana residents. “After the April 18 tax-filing deadline, the Department of Revenue, in collaboration with the Auditor of State’s Office, will begin issuing refunds via direct deposit or mailing a paper check,” Holcomb’s office stated earlier this month.
WHAT AMOUNT OF MONEY COULD YOU GET?
Residents of New Mexico who filed their taxes on Monday after Gov. Michelle Lujan Grisham signed the legislation in March may be eligible for a rebate. According to Newsweek, single filers would receive a $250 one-time refund, while married filers would receive a $500 one-time refund.
After submitting their 2021 taxes in New Jersey, particular residents will be eligible for tax refunds of up to $500. According to Forbes, New Jersey Governor Phil Murphy and the state legislature earlier passed a budget that provided $500 tax return cheques to about one million families. Murphy included a $500 one-time refund check for anyone who filed their taxes using a taxpayer identification number rather than their social security number last month.
WHAT OTHER STATES ARE GOING TO PROVIDE MORE PAYMENTS?
Idaho Governor Brad Little has recently approved a law that allocates $350 million in tax refunds to qualified households. “Any Idaho citizen who lived in Idaho for the entire calendar year in 2020 or 2021 and filed an Idaho individual tax return or Form 24 for those years is eligible for a refund.” Non-residents and half-time residents are ineligible, according to the Idaho Tax Commission.
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The rebate amount will be $75 for each taxpayer and dependent, or 12% of your 2020 taxes, whichever is greater. Aside from the five states that have already approved extra cash contributions after the April 18 tax filing deadline, several more states are considering similar plans that must still be approved by the state legislature. According to Forbes, California, New York, Hawaii, Kansas, Kentucky, Maine, Minnesota, Pennsylvania, and Virginia have similar proposals to provide additional money to citizens. According to the Newsweek story, residents could receive more compensation in the coming months if these ideas pass in the states.