Prepare for Financial Relief: Stimulus Payments Scheduled for June 2023 in Select States
The federal stimulus payments in 2020 and 2021 garnered significant attention, but it’s important to note that many states continued their efforts in 2022 and 2023, either by authorizing new stimulus programs or ensuring the distribution of previously allocated funds. Although most filing deadlines have passed and the majority of funds have been disbursed, there are a few states that still offer opportunities for residents to benefit from stimulus payments. Below, we outline the details for each of these states.
Idaho: In Idaho, tax rebates and “Special Session Rebates” were issued in March and September 2022. The payment distribution has concluded for individuals who filed their tax returns on time. However, for those who requested extensions or filed later, the processing of rebates will continue throughout the summer of 2023.
Illinois: For both the Illinois Income Tax Rebate and Property Tax Rebate, the final filing date was October 17, 2022. Most payments have already been made; however, the state Comptroller has confirmed that processing will persist until all payments have been issued.
Maine: Similar to other states, the deadline for filing state rebate claims in Maine has passed. The final day to file for the Maine Winter Energy Relief Payment was October 31, 2022. Payment distribution commenced in January 2023 and is nearly complete. However, if you qualify for a payment but haven’t received one, you still have until June 30 to contact the State Tax Assessor and provide evidence of eligibility. Approved individuals may receive a rebate until September 30, 2023.
Massachusetts: Massachusetts initiated state tax refund payments in November 2022, and the majority of these payments have been finalized. Eligible filers were entitled to a refund equivalent to 14.0312% of their 2021 Massachusetts state tax liability. Late filers have until September 15, 2023, to submit their returns and still qualify for the rebate, which will be disbursed approximately one month after the state processes their returns.
Montana: As of now, Montana is the sole state offering a new stimulus package for the second half of 2023. Residents may qualify for a property tax rebate of up to $500 and/or an income tax rebate, the amount of which will be the lesser of $2,500 for joint filers ($1,250 for other classifications) or their actual state tax liability. Income tax rebates will be distributed between July and December 31, 2023, while property tax rebates must be claimed online or via U.S. mail between August 15 and October 1, 2023.
New Mexico: In 2023, New Mexico is providing two types of rebates to residents. One rebate is for taxpayers, offering $1,000 for joint filers and $500 for single filers or married individuals filing separately. These rebates will be disbursed in mid-June 2023. Another rebate is available for individuals not required to file income tax returns, although the specific amount is still being determined. This rebate will be distributed in July.
It’s crucial to stay informed about these programs and their respective deadlines to ensure eligibility and timely applications for potential stimulus payments.