Inflation is hurting many Americans and they’re struggling to make ends meet. The federal government is doing its part to help by distributing economic impact payments or “stimulus2023” through the IRS. Many states are also providing one-time relief payments to their residents, often called tax rebate checks. If you received a state rebate payment last year, there’s important information to know before filing your 2022 tax return.
The COVID-19 pandemic caused a financial hardship for millions of American families. In response, the federal government issued three rounds of stimulus checks to alleviate some of that stress. However, there’s been no word on whether or when a fourth round of inflation-adjusted stimulus checks will be issued.
Navigating Stimulus2023: A Comprehensive Guide for Individuals and Businesses
If you’re in California and earned less than $75,000 last year, you might be eligible for a $600 Golden State Stimulus Check. To find out more, you can check your eligibility here.
You can also contact your local Department of Taxation for details. If you’re in the market for a new vehicle, it might be worth it to wait until you’ve received your check. You could save money on a down payment or monthly loan payments.
If you have questions about your State’s program, contact your Department of Taxation or Finance. It’s a good idea to keep an eye on your local news for updates, too. This way, you can stay ahead of the curve and avoid any surprises down the road. Good luck!