THOUSANDS of families are set to get $1,700 direct payments.
The state of Maine has kicked off its tax rebate program that is sending $850 per individual and $1,700 to the average family.
However, only those who meet the qualifications will be set for the money.
As far as income goes, an individual must not exceed $100,000, while heads of the household and couples can make up to $150,000 and $200,000 respectively.
This will be based on 2021 tax returns, which must be filed by October 31.
Governor Janet Mill’s office has said that those who filed 2021 state taxes can expect their money to arrive by mid-July.
To see when cash will drop in your account, you can use Maine’s refund status tool to track your payment.
Read our stimulus live blog for the latest news and updates…
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Stimulus payments in Ohio, part three
More than 7million Ohio residents would benefit from the proposal.
According to Whaley, $350 would cover what the average resident pays in gasoline taxes, “plus extra money for other essentials”.
As of June 14, a gallon of gasoline cost $5.04 on average in Ohio, according to AAA.
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Stimulus payments in Ohio, continued
The Scioto Valley Guardian reported that Ohio will receive $2.68billion in funding from the next round of American Rescue Plan payments.
These funds will cover the cost of the payments.
Whaley’s plan would send $350 to individuals earning less than $80,000 annually, and $750 to couples making no more than $160,000.
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Stimulus payments in Ohio
A gubernatorial candidate in Ohio has announced her intention to send out $350 stimulus payments to fight inflation.
In an interview with the Scioto Valley Guardian, Democratic nominee Nan Whaley shared her plan to help Ohio residents handle soaring costs.
Whaley easily won the Democratic primary for governor of Ohio, earning 65.1 percent of the vote in the state’s May 3 primary.
However, she faces stiff competition against incumbent Governor Mike DeWine in the general election.
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Colorado taxpayers get dividends in August or September
Governor Jared Polis announced earlier this spring that Colorado taxpayers will receive a dividend of at least $400, KDVR/Fox 31 News reported.
The dividends are a product of the Taxpayer Bill of Rights.
Here are the key takeaways, as summarized by the outlet:
- Full-time residents and taxpayers filing by May 31 qualify
- Individuals will get $400 and joint filers will get $800
- About 3.1 million residents will receive the payment
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Up to $500 set for Missourians
Lawmakers in the Missouri Senate recently passed a $49billion budget — the largest in the state’s history.
The budget will allow individual income filers to get up to $500 while joint filers can expect to receive up to $1,000.
Taxpayers will get $1 back for every dollar they’ve paid in taxes, The Kansas City Beacon revealed.
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How to claim past stimulus payments
Those who feel they might be still eligible for a stimulus payment will want to file a tax return if they haven’t already.
In particular, you’ll want to claim the Recovery Rebate Credit.
People who aren’t sure if they are due a stimulus payment should consult with a tax professional.
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New Yorkers get direct relief from gas tax
Prior to June 1, New Yorkers were taxed 16 cents per gallon, CBS reported.
According to AAA, a gallon of gasoline in New York now costs $5.04 on average.
“By suspending certain fuel taxes for the next seven months, New York is providing some $609million in direct relief to New Yorkers,” Governor Hochul said in a press release.
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Poverty rate without stimulus checks
Without stimulus payments, the supplemental poverty rate would have increased by an estimated 3.6percent, according to the 2020 Supplemental Poverty Measure Report.
The 2020 SPM rate of 9.1 percent was the lowest rate since estimates were first published for 2009.
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Did checks lift people out of poverty?
According to the Supplemental Poverty Measure (SPM), which was released by the United States Census Bureau in September 2021, the first two rounds of stimulus money helped lift 11.7million people out of poverty.
More than $400billion in stimulus money was distributed in the first two rounds of payments in 2020.
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Lawmakers want to repeal 18.4 cent gas tax
The federal tax on a gallon of gasoline is 18.4 cents, according to the US Energy Information Administration.
In a press release, Pennsylvania Governor Tom Wolf has asked Congress to repeal the tax through the end of 2022.
He was joined by Governors Gretchen Whitmer of Michigan, Jared Polis of Colorado, Michelle Lujan Grisham of New Mexico, and Tony Evers of Wisconsin.
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Amount of stimulus checks issued
The Internal Revenue Service (IRS) said it issued more than 175million checks worth $400billion, as of December 2021.
In 2020, the IRS issued 162million stimulus checks.
And more than 147million second-round stimulus checks have been issued, according to the IRS.
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$250 child tax credits in Connecticut
Applications for $250 child tax credits, which come in the form of a tax rebate, have opened in Connecticut.
They will remain open from June 1 to July 31.
Connecticut families may claim up to three credits, worth $250 each.
The payments come as Connecticut’s record-smashing budget surplus has come to light.
The tax rebates are part of an updated budget plan, which kicks in July 1.
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Guaranteed income in New York
Under Ithaca, New York’s guaranteed income program, payments of $450 will go out to residents every month for a year.
The payments are intended for caregivers.
Residents in the region must have a family income that’s below 80 percent of the area’s median.
Payments will be sent this month via prepaid debit cards, as reported by The Ithaca Voice.
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Empire State slashes gas taxes
On June 1, New York Governor Kathy Hochul announced a statewide gas tax holiday.
Gov Hochul said New York will cut the tax on regular gasoline and diesel.
The tax holiday began on June 1 and is set to expire on December 31.
The gas tax holiday could help New Yorkers with little hope of another stimulus save some money.
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Minnesota frontline worker pay of $750
Governor Tim Walz approved $750 relief payments for essential workers earlier this spring.
Applications opened on June 8 for the program, known as Minnesota Frontline Workers Pay.
According to the state, applications will close on July 22, 2022.
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Hawaii’s tax rebate proposal
Hawaii Governor David Ige submitted a tax rebate proposal in January.
The proposal will allow every Hawaii taxpayer earning less than $100,000 to receive $300.
Those earning more will be sent $100.
The state of Hawaii approved the rebate in May, but final details have not yet been released, as reported by Forbes.
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You won’t get a check today
Due to the fact that there’s no regular mail delivery on Juneteenth, Americans can hold off on checking the mailbox for tax rebates or stimulus checks until tomorrow.
Also, you can expect your local post office and couriers to be out of service today, according to the US Postal Service holiday calendar.
The USPS will re-open its doors on Tuesday, June 21, at the usual times.
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Billionaires may have used tax loopholes
ProPublica also found 270 taxpayers who disclosed $5.7billion in income collectively and ended up qualifying for stimulus checks.
The individuals managed to “deploy deductions at such a massive scale that they qualified for stimulus checks,” the outlet noted.
“The wealthy taxpayers who received the stimulus checks got them because they came in under the government’s income threshold,” ProPublica reported.
“In fact, they reported way less taxable income than that — even hundreds of millions less — after they used business write-offs to wipe out their gains.”
The article noted that those examples of wealthy taxpayers listed negative net incomes on their tax returns.
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Billionaires received stimulus payments
ProPublica discovered that 18 billionaires received stimulus payments in the spring of 2020, citing IRS records.
For instance, George Soros and his son, Robert, reportedly each received stimulus payments. Soros is worth $8.6 billion.
Their representatives told the outlet that both men returned the checks.
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Don’t ignore the IRS: The exception
There may be an exception to this, as the process has been a mess.
More than 5million taxpayers were sent a “math error” notice last year without the 60-day language included.
As a result, the IRS resent some letters with clear language restating the time you have to respond.
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Don’t ignore the IRS
The worst thing you can do if you get a letter from the IRS is fail to act.
If you do not respond within 60 days of receiving a notice, an adjustment is final and the IRS can start collections.
Additionally, you’ll lose the right to file a petition in the US Tax Court.
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Agriculture department sends out cash, continued
“They deserve recognition for their resilience and financial support for their efforts to meet personal and family needs while continuing to provide essential services,” Vilsak said.
“This grant program is another component of this Administration’s efforts to ensure assistance to alleviate the effects of the pandemic is distributed to those who need it most.”
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Agriculture department sends out cash
A whopping $700million was set aside by the US Department of Agriculture to compensate staff who incurred unexpected costs – such as having to purchase their own PPE and taking unpaid leave.
US Agriculture Secretary Tom Vilsak announced the bonuses earlier this month, applauding “the social and economic achievement” of workers who kept food on the table.
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What is a coronavirus stimulus check?
The first round of checks was a part of the $2.2trillion economic relief package passed by Congress in March 2020.
The package was an initial response to the economic impact of COVID-19.
In March 2021, President Joe Biden then signed the $1.9trillion American Rescue Act into law.
The latest round of cash begins to be phased out for individual taxpayers who earn $75,000 a year.
But once you hit the $80,000 annual gross income (AGI) limit, you aren’t eligible for the help at all.
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NY stimulus ‘just the beginning’
A report outlining New York City’s recovery plan stated the measures are “just the beginning”.
It said: “The City’s decisions to invest these funds now will help keep New Yorkers safe, restart the economy, rebuild the tax base, increase equity and enable greater economic growth in future years.”
Officials are also investing $52.5million in a bid to bring tourism back to pre-pandemic levels.
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