Many Americans are about to receive another round of payments designed to help with rising costs. These inflation relief payments could be worth as much as $500, but not everyone qualifies. Here’s what you need to know about the three checks and how to be eligible.
Who Qualifies for the Payments?
To get these payments, taxpayers must have filed their 2023 and 2024 tax returns. The tax filing deadline was May 1, but if you filed for an extension, you have until October 15 to file.
These payments are currently being sent to residents of Georgia, so living in the state during 2023 and 2024 is an important part of eligibility. However, if you lived outside Georgia but worked in the state, you might still qualify.
Another key rule is that you must have a tax liability for 2023 to be eligible for a payment.
How Much Will You Get?
There are three payment amounts based on your filing status:
- Single taxpayers can receive up to $250
- Heads of household can get up to $375
- Couples filing jointly can get up to $500
This is the third relief program announced by Georgia Governor Brian Kemp to help families handle inflation.
When Will You Receive Your Payment?
Most payments will be sent via direct deposit based on the address on your tax return. However, it may take between six and eight weeks for checks to arrive.
Governor Kemp signed the rebate law on April 15, explaining that the payments will help Georgia families cope with inflation’s impact.
Payments Beyond Georgia
Inflation relief payments aren’t just for Georgians. Americans across the country are encouraged to check if they have unclaimed money, with average refunds around $500 being sent.
For example, New Yorkers are expected to receive inflation-busting payments up to $400 later this year, with more than eight million people set to benefit.
