Millions of Americans across several states could be eligible for bailouts from local governments this month as the nation continues to bear the burden of record high inflation.
State governments in California, Hawaii and Virginia are preparing to give residents much-needed check and debit card assistance to help offset rising living costs.
In June, California Gov. Gavin Newsom signed into law a gargantuan $308 billion budget package that included a provision that would benefit some 23 million residents of the state who would receive checks worth up to 1,050 by the end of October US dollars would be received.
California’s Franchise Tax Board (FTB) recently announced that residents of the Golden State who are eligible for a middle-class tax refund will receive their checks this week.
Payments will be made to eligible Californians either by direct deposit into their bank accounts or through a mailed debit card coordinated through Money Network.
According to the FTB website, eligible residents of the state must file their 2020 tax returns by Oct. 15 last year.
Those who are married or applying with a registered civil partner (RDP) and who reported an Adjusted Gross Income (AGI) of $150,000 or less on their 2020 tax returns are eligible for a payment of $1,050 if they also have a dependent. Those without loved ones would line up to receive checks for $700.
Married Californians who have reported an AGI of between $150,001 and $250,000 can expect to receive a $750 check if they have a dependent. Those without loved ones stand in line to receive $500.
Joint applicants who reported an AGI of between $250,001 and $500,000 will receive a $600 check if they have dependents, while those without dependents will receive a $400 payment.
Californians earning more than $500,000 will not receive an aid payment.
Hawaii residents must file an income tax return by December 31, which was due earlier this year if they want to receive paper check refunds.
Last month, Hawaii Gov. David Ige announced that the state’s Department of Taxes would release $294 million in tax refunds.
The plan provides $1,200 in tax refunds for a family of four. Taxpayers earning less than $100,000 a year or couples earning less than $200,000 a year will receive payments of $300 per person.
Hawaii authorities said 535,000 taxpayers, representing 89% of the claimants, are eligible for the $300 refund per dependent.
Those earning more than $100,000 or couples earning more than $200,000 will receive a tax refund of $100 per person. About 64,000 applicants – or 11% of those who submitted statements – will receive the $100 per person refund.
Those who haven’t specified a bank account for direct deposits can expect to receive checks in the mail by the end of October at the latest. For more information, visit the state’s official tax portal.
Virginia is offering taxpayers the opportunity to file their returns by November 1 to be eligible for a one-time tax refund of $250 for individual taxpayers and $500 for joint tax returns. The benefit is only extended to those who were taxable for the 2021 tax year.
According to the Virginia Tax website, claimants who submitted their returns by Sept. 5 can expect to receive their rebates by Oct. 31, either through direct deposit or a mailed check.