Are Stimulus Checks Coming Your Way?
The $9.961 billion dollars worth American Rescue Plan of 2021 provided financial assistance to millions of families struggling financially as a result of the Covid-19 pandemic. With stimulus checks up to $1,400.00, increased Child Tax Credit from $2,000.00 per child to $3,000.00 and $3,600.00, extended unemployment benefits, emergency grants to small businesses, funds to cover rent, an increase in Supplemental Nutrition Assistance Program (SNAP) benefits, increase of the Earned Income Tax Credit, and delinquent mortgage payment assistance, the government is directly helping American citizens and the overall economy.
The Homeowners Assistance Fund programs (HAF) are developed and overseen by each state using these federal funds to help homeowners behind on their mortgage payments, property taxes, homeowners’ insurance, HOA fees, utility bills, and other housing-related expenses. Another financial boost comes from stimulus checks which are a result of legislation — the CARES Act, Consolidated Appropriations Act, and American Rescue Plan Act.
States Sending Out Stimulus Checks
Nearly 60,000 families in Florida will receive a $450.00-per-child check to help balance inflation costs. The governor has set aside $35.5 million of the $1 billion the state received under the American Rescue Plan Act in order to pay for the payments. Eligible recipients include foster parents, relative and non-relative caregivers, Guardianship Assistance Program participants, and Families receiving Temporary Assistance for Needy Families (TANF) cash assistance.
Inflation relief checks will be also sent out in the State of California. Payments starting in October will be sent in the form of direct deposits or debit cards by 2023. Single taxpayers who earn less than $75,000.00 a year will qualify for $350.00, (plus another $350.00 if they have any dependents) and couples who file jointly and make less than $150,000.00 a year will receive up to $700.00 (plus $350 for any dependents, for a total of $1,050.00)
A check for $750.00 will be mailed to Colorado residents who filed their 2021 tax returns by June 30. Joint filers may get up to $1,500.00.
Residents of Delaware who had submitted a 2020 state tax return earlier this year were given a one-time payment of $300.00.
Georgia residents who filed both their 2020 and 2021 tax returns will receive up to $250.00 if they are single filers, $375.00 for the head of the household, and $500.00 for married couples.
Illinois will give a $50.00 tax credit to anybody who made less than $200,000.00 in 2021. Couples who jointly file and have incomes under $400,000.00 in 2021 will get a $100.00 one-time payment.