After declaring the end of the pandemic worldwide, the US government considered the possibility of stopping issuing stimulus checks. However, the continuing effects of inflation as well as recession probabilities led to a renewed distribution.
Therefore, the Internal Revenue Service (IRS) announced last November that thousands of people would be eligible to receive stimulus checks in 2023.
To this end, a payment structure classified into three groups has been carried out: single taxpayers, married couples and families with children.
Who will receive the stimulus check?
The objective of these checks is to help low or middle class socioeconomic groups. Therefore, as income increases, eligibility for Economic Impact Payments decreases.
In this case, married taxpayers often file joint returns to maximize the benefit, but may also affect the threshold for receiving the check. However, the threshold amount to qualify for stimulus funds varies by state and state budget.
What are the states that will receive a refund?
Residents of California, Colorado, Idaho, Illinois, New Mexico, Pennsylvania, and South Carolina who paid taxes will be eligible for financial aid.
With this, the federal government has proposed to adapt the framework according to the changing needs of society. In other words, people requesting the checks must make sure they meet the current eligibility criteria. Of course, the requirements for receiving the Economic Impact Payment have changed.
Requirements for the stimulus check and how much they will be
Single people who hope to qualify must verify that their income does not exceed the established limit ($75,000.00 USD). In the case of married couples, the limit is $112,000.00 USD.
In addition, there is a very important question to qualify: it is evaluated if the person received money or used the state system during the previous fiscal year.
Finally, if there are no issues with the eligibility requirements, payments are mostly delivered within 7-8 weeks.
There is also the facility to track the status of payments. This can be done through the “Where’s My Refund” portal on the IRS website.
