When you think about whether will there be a stimulus check 2023, the first question that comes to mind is whether another round of these government payments will be distributed in 2023. While federal stimulus checks ended a couple of years ago, some states are continuing to provide financial relief for their residents through state rebate payments, or as they are more commonly called, “stimulus checks”.
In addition to the federal payments, which were rolled out in April 2020, December 2020, and March 2021, several state governments have also offered one-time rebate payments to their residents to help offset record-high inflation. These payments were primarily intended to give Americans relief from rising prices, encourage spending, and boost consumer confidence.
The Stimulus Check Debate: What to Expect in 2023 and How It Affects You
These state rebate payments are typically distributed via paper or direct deposit checks, and the eligibility criteria vary from state to state. For example, in Colorado, individuals who filed a tax return for the 2021 tax year and met other requirements received a payment of $750. Joint filers received twice as much.
If you were eligible to receive a rebate check, or have been wondering if you would be able to get a stimulus check this September, there is some good news! Minnesota Governor Tim Walz has announced that a special program will be offering families in the state of Minnesota one-time state rebate payments as a back-to-school incentive.
To qualify, taxpayers must meet the income requirements, and their household must have either a Social Security Number or an Individual Taxpayer Identification Number (ITIN). It’s important to note that these payments are not the same as tax credits, which are deductions applied to your tax bill at the end of the year.