IRS Stimulus Checks May 2024: In response to the COVID-19 pandemic, many states, along with the federal government, gave money to people to help with the economic impact. This was called a stimulus. After about three years, most of these payments stopped. But because things are still tough financially for some people in USA, a few states are still giving out help for IRS Stimulus Checks May 2024.
In this blog, I’ll share a list of states that might send out more stimulus checks in May 2024. These checks could be different from the ones the IRS sends, because each state manages its own money and taxes.
IRS Stimulus Checks May 2024
An IRS Stimulus Check for May 2024 is like a boost of money from the government to help American’s during tough financial times.
It’s meant to get people spending more money, which helps the economy. Stimulus Checks are often sent out when things are not going so well financially for a lot of people.
List of States Sending Stimulus Checks in May 2024
Many States in the USA, stop making payment of Stimulus Checks. but some of the States still Sending Stimulus Checks in May 2024. Let’s check the list.
- Alabama
- Arizona
- Georgia
- Illinois
- Minnesota
- Montana
- New Mexico
- Pennsylvania
- Virginia
- Washington
Alabama
Alabama has issued a one-time tax rebate, with single tax filers receiving $150 and married couples $300.
- Eligibility requires having filed 2021 taxes by October 17, 2022.
- The rebate is projected to reach approximately 1.9 million Alabamans.
- It will be funded by a $2.8 billion surplus in the state’s Education Trust Fund.
- The rebate is estimated to cost the state around $383 million.
Arizona
Arizona taxpayers with dependents are in line to receive rebates by April 15. Here’s what you need to know about Alabama Stimulus Checks:
- Each dependent under 17 qualifies for a $250 rebate, capped at $750 for three dependents.
- Dependents aged 17 and above will receive $100 each.
- These rebates aim to ease inflation impacts and are funded by state surplus funds.
- Around 750,000 taxpayers who filed their 2021 tax returns and claimed a specific credit will benefit.
- Distribution will be through direct deposit or checks.
Georgia
Georgia taxpayers who haven’t filed their state income tax returns for 2021 or 2022 are encouraged to do so to qualify for a one-time tax credit potentially.
- The refund amount depends on income and taxes paid.
- Single taxpayers can receive up to $250.
- Head of household filers may get up to $375.
- Married couples filing jointly could receive up to $500.
Illinois
Illinois residents can receive unclaimed property checks, potentially worth up to $5,000 each.
- Over 66,000 individuals could qualify for these funds, amounting to about $47 million in total.
- To claim, residents should keep an eye out for a letter from the Illinois State Treasurer’s Office.
- They may need to verify their identity before receiving a paper check.
Minnesota
Residents of Minnesota might have already received a one-time tax rebate, which started being distributed in mid-August.
- The rebate can be up to $1,300.
- Specific amounts and eligibility criteria are outlined in the official guidelines.
Montana
Montana residents may be eligible to receive rebates on their income and property taxes for 2021 and 2022.
- To qualify, residents must have filed their taxes by October 1, 2023.
- Rebates can include up to $675 for property tax.
- Additionally, an income tax rebate is available, equal to the lesser of $2,500 for joint filers ($1,250 for other classifications) or their state tax liability.
New Mexico
Starting from July 26, 2023, Economic Relief Payments were distributed in New Mexico.
- 26,085 qualifying applicants received $500 for individuals and $1,000 for couples and households.
Pennsylvania
The application deadline for the Property Tax/Rent Rebate Program in Pennsylvania is May 1, 2024.
- Eligibility criteria and potential rebate amounts can be found on the official website.
Virginia
Virginia is offering a tax rebate of $200 to individuals and $400 for joint filers.
- To qualify, individuals must have had tax liability in 2022, meaning they owed money to the state after accounting for tax credits, deductions, and subtractions.
- Taxpayers who submit their returns by July 1, 2024, are expected to receive rebates by December 2024.
- The deadline to file 2022 taxes for rebate eligibility is July 2024.
Washington
Eligible workers in Washington State have the opportunity to receive up to $1,200 in tax credits through the Washington Working Families Tax Credit Refund.
- To avail of this benefit, workers must apply by December 31, 2024.
- The credit aims to support working families and individuals by providing financial assistance.
Stimulus Checks Eligibility Criteria
Income Level
- Stimulus checks were typically available for individuals with an adjusted gross income (AGI) below specific thresholds.
- For example, $75,000 for individuals and $150,000 for married couples filing jointly.
- The payment amount decreased as AGI exceeded these thresholds, phasing out entirely at higher income levels.
Filing Status
- Different income thresholds applied based on tax filing status, such as single, married filing jointly, or head of household.
Dependents
- Additional amounts were often provided for qualifying dependents.
- The definition of a qualifying dependent varied between different stimulus payments.
Tax Filing
- In some cases, individuals needed to have filed a recent tax return to receive the stimulus payment.
- Non-filers might have been required to submit information to the IRS through a non-filer portal or other means.
Social Security Number
- Recipients and their dependents were generally required to have a valid Social Security number.
Citizenship Status
- Typically, U.S. citizens and U.S. resident aliens were eligible.
- Non-resident aliens, estates, and trusts were generally not eligible.
Other Criteria:
- Some individuals, such as those who could be claimed as a dependent on someone else’s tax return, were ineligible.
- In some instances, those with certain immigration statuses or those incarcerated were excluded.
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