July 4th stimulus? What to know about possible payments before Independence Day
No New Federal Stimulus Check for July 4th
While there's no new federal stimulus check on the way this July 4th, some states are still sending out payments through ongoing programs, just in time for the holiday weekend, as per a Marca report.
These payments aren't technically a 'July 4th stimulus,' but for families managing tighter budgets, any extra help during the summer can feel like a celebration in itself.
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While there's no national stimulus payment like the ones distributed during the COVID-19 pandemic, as per the report. But in a few states, residents will be receiving financial assistance tied to things like tax credits, inflation relief, and state-funded rebates, according to the Marca report.
Most of the deposits that people might get are part of programs such as the Child Tax Credit (CTC), tax refunds, or one-time state assistance, as per the report. Some are scheduled to arrive just before or during the July 4th weekend to help ease the extra holiday spending, according to the Marca report.
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States Sending Payments This July 4th
Here's a quick look at where checks may be arriving and who could qualify:
In Alaska, the annual Permanent Fund Dividend is still being distributed to eligible residents who met the residency requirements, as reported by Marca.
Maine is offering help through its Property Tax Fairness Credit, aimed at giving relief to low- and moderate-income homeowners and renters, according to the report.
In New Mexico, one-time economic assistance payments are being sent based on state tax returns to help residents cope with inflation, as per the Marca report.
New Jersey has ongoing rebate programs for eligible taxpayers, according to the report.
Even in Texas and Colorado, local programs offer additional payments in some regions for families affected by rising costs of living, as per the Marca report.
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Check Your Eligibility and Payment Dates
Each program has its own rules, deadlines, and eligibility criteria, so personal finance and tax policy experts have suggested that it's better to check directly on the official websites of the IRS and state governments to confirm the exact dates of deposits and the requirements needed to qualify for these payments, as reported by Marca.
FAQs
Is there a new federal stimulus check coming for July 4th?
No, there's no new federal stimulus check planned for this Independence Day.
Can I still get some kind of payment before July 4th?
Yes, some states are sending payments through ongoing programs like tax credits or state rebates.
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