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Americans waiting for stimulus checks from the federal government have faced a long period of disappointment. There have been no direct payments authorized to be made into people's bank accounts since the American Rescue Plan Act was signed into law shortly after President Biden took office in early 2021.
Additional federal funds aren't likely to come any time soon due to lack of bipartisan support -- although some lawmakers are trying to move forward with more help for parents.
That's the bad news. The good news is, potentially millions of people could still receive stimulus payments in 2023. Here's where the money could come from.
Will you get more stimulus funds in 2023?
Despite the lack of action regarding stimulus payments on the federal level, a number of states are continuing to deliver financial relief for their residents. And this trend will continue into 2023. Here are some of the places where money will be sent next year:
- California: Many of California's Golden State payments have gone out already, but around 5% of eligible Californians are still waiting for them. The final set of payments will likely be going out to state residents by the end of next month. Payments are worth up to $1,050 with the amount you'll receive depending on income and dependents.
- Colorado: Payments of up to $1,500 for joint filers or $750 for single tax filers will be sent out to Colorado residents who did not yet receive them due to delayed submission of their tax returns. The remaining payments are expected to be sent out by Jan. 31, 2023.
- Idaho: Eligible Idaho residents will receive payments equal to the greater of 10% of the amount reported on their 2020 tax returns or either $300 or $600 for single or joint filers respectively.
- New Jersey: Homeowners in New Jersey are eligible to receive a payment of up to $1,500 and renters are eligible to receive up to $450 in rent rebates. They are scheduled to be paid out by May of 2023.
- South Carolina: Payments of up to $800 are available for South Carolina residents. Those who filed their tax returns by Oct. 17, 2022 will receive these payments before the end of 2022 but anyone who files an extended return by Feb. 15, 2023 will receive payments in March of 2023.
If you live in any of these locations, you should check your state's rules to see if you are eligible for stimulus funds and if you can expect a payment in your bank account in the coming year.
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