Inflation Stimulus Checks: When To Expect Your 4th Stimulus Check
- January 30, 2023
- 12 min read
- 18187 reads
- The 4th round of stimulus checks will be sent out to Americans in 2023, in addition to the first three, which were sent between 2020 and 2021.
- So far 9 states have started payouts to their residents.
- The first stimulus check payment was issued as part of the CARES Act in 2020.
- The second stimulus check was part of the Tax Relief Act of 2020.
- The third stimulus check payment was issued under the American Rescue Plan in 2021.
- The first three stimulus checks were worth $1,200, $600, and $1,400 respectively.
Here’s what we’ll cover in this post:
- •What Is An Inflation-Adjusted Stimulus Check?
- •When Will the 4th Inflation-Adjusted Stimulus Check Be Sent?
- •How Much Is the 4th Stimulus Check?
- •Who Will Receive a 4th Stimulus Check?
- •How To Claim Your Stimulus Check
- •What If I Missed My First Three Stimulus Checks?
- •What If I Don’t Receive My 4th Stimulus Check?
- •Will There Be Another Stimulus Check?
What Is An Inflation-Adjusted Stimulus Check?
Inflation-adjusted stimulus checks, or economic impact payments, are payments by the government to help U.S. citizens offset high costs in certain areas of their lives such as food, transportation, and health care.
The first economic impact payment was issued under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) in March 2020.
In December 2020, an additional payment of up to $600 per adult was made under the COVID-related Tax Relief Act of 2020.
The 4th round of inflation-adjusted stimulus checks will be sent out in addition to the first three, which were sent between 2020 and March 2021.
The American Rescue Plan Act of 2021 provided a third economic impact payment, known as stimulus four, of up to $,1400 per individual or $2,800 per couple.
The aim of these stimulus checks is to help offset the high costs of living and it can also help lower the amount of income taxes that would be paid by the recipient.
Why Are Stimulus Checks Given?
When the recession hit, many Americans found themselves struggling to pay their bills and make ends meet. In response to this crisis, the federal government decided to participate in what it calls a “stimulus program.”
This involved sending some money out to individual citizens so that they could buy things like food and gas for their cars.
As part of the American Rescue Plan, all states have been given a combined total of $195 billion to help support their economic recovery.
The states now have to decide how to use the money by the end of 2024.
When Will the 4th Inflation-Adjusted Stimulus Check Be Sent?
As for the 4th stimulus check release date, many states have already rolled out the fourth round of inflation-adjusted federal stimulus checks as of October 2022, with more planning to follow.
This round will be sent out in addition to the first three, which were sent between July 2018 and March 2019.
These nine states will receive between $200 and $1,700: California, Colorado, Idaho, Illinois, Maine, New Jersey, Pennsylvania, Rhode Island, and South Carolina.
- California residents who haven’t yet received their Golden State Stimulus payment can expect it by the end of January.
- In Colorado, joint filers will get $1,500, and single filers $750. If you’ve submitted your tax return by October 17 you should see your payout by the end of January.
- In Idaho, full-time residents between 202 and 2021 can expect their payments to be between $300 and $600.
- Residents from Illinois, Maine, New Jersey, Pennsylvania, Rhode Island, and South Carolina can expect checks between $250 and $975 from the end of January.
How Much Is the 4th Stimulus Check?
The fourth stimulus check will be between $200 and $1,700. This is based on the American Rescue Plan that was recently passed by Congress.
The plan includes $1,400 stimulus checks for those who make up to $75,000 a year, or $150,000 for a married couple filing jointly.
The amount of the stimulus check will decrease for those who make more than $75,000 a year, with those making more than $99,000 a year not receiving any stimulus money.
The exact amount of the fourth round of these payments will be determined by each state. Of the states that have already decided to issue a fourth stimulus check, the amount seems to be between $450 to $1,200 or more.
Who Will Receive a 4th Stimulus Check?
The IRS says that the following people are eligible for the fourth stimulus check:
- Individuals with an Adjusted Gross Income (AGI) of up to $75,000
- Head of household filers with an AGI of up to $112,500
- Married couples filing jointly with an AGI of up to $150,000
- Parents or guardians claiming children as dependents who are eligible for the child tax credit
If your income is above these amounts, you may still be eligible for a partial payment. The payment amount is reduced by $5 for each $100 that your AGI exceeds the thresholds.
For example, if your AGI is $85,000, you’d be eligible for a partial payment of $50 (($75,000 – $85,000) x 0.50).
Although all states have access to the funds, not all of them have decided how they’re going to use them.
So far, 20 states have announced they will be sending out 4th stimulus checks, although nine have so far started payouts (see above):
- Alaska: $3,200
- California: Up to $1,500
- Colorado: Up to $1,500
- Delaware: $300
- Florida: $450
- Georgia: $250
- Hawaii: $300
- Idaho: Up to $600
- Illinois: Up to $975
- Indiana: $325
- Maine: Up to $975
- Massachusetts: $250
- Minnesota: $488
- New Jersey: Up to $975
- New Mexico: $500
- Oregon: $600
- Pennsylvania: Up to $975
- Rhode Island: Up to $975
- South Carolina: Up to $975
- Virginia: $250
Stimulus Checks for Specific Groups
Arizona is giving stimulus payments of $2,000 to people who are going back to work as part of their Back to Work Program.
However, you have to keep your job for at least eight weeks to get the stimulus money.
Maryland offers stimulus checks of $500 to anyone who filed for Earned Income Tax Credit for their 2019 taxes.
New York will be giving out unemployment benefit payments under the Excluded Workers Fund to workers who lost their jobs during COVID-19 and didn’t qualify for stimulus payments or unemployment benefits.
Stimulus Checks for Teachers
Some states have decided to give out a fourth stimulus check to teachers:
Most of these states will give out a stimulus check between $500 and $1,000. Some states, like Texas, are doing even more by giving additional bonuses to teachers and even incentives to return to the classroom.
How To Claim Your Stimulus Check
The easiest way to claim your 4th stimulus check is to simply file your taxes and claim the Recovery Rebate credit.
You can do this in two ways:
- File a simple tax return online that takes around 15 minutes, or
- File a full tax return if you’re eligible for additional tax credits.
What If I Missed My First Three Stimulus Checks?
If you haven’t received your previous stimulus checks, you can still receive the fourth check. You can also still claim your $1,400 stimulus check.
You can also see if you are owed a stimulus payment from last year by checking your bank statements to see how much has been deposited, or, if you’re a parent, by using the IRS’ child tax credit portal to view online account payments.
What If I Don’t Receive My 4th Stimulus Check?
If you don’t receive your fourth stimulus check, it could be for a few reasons. The most common reason is that the IRS has not processed your payment yet.
This can happen for a variety of reasons, including if you recently filed your taxes or updated your direct deposit information.
If you think you should have received your payment but haven’t, you can check the status of your payment on the IRS website. You’ll need to enter your Social Security number, date of birth, and mailing address.
If the IRS says your payment has been issued but you still haven’t received it, it’s possible that it was sent to an old or incorrect address. You can update your address with the IRS online or by calling 1-800-829-1040.
If you’re still having trouble, you can contact your local member of Congress or the Consumer Financial Protection Bureau (CFPB) for help.
Will There Be Another Stimulus Check?
Most people agree that it’s highly unlikely, although some lawmakers are pushing for more. With the economy looking upward, the need for another stimulus check is not as high, either. But only time will tell.
The increase in inflation has been a good thing for the economy, but it’s also meant that we will see less of our tax refunds.
Are we getting a stimulus check in October 2022?
A good number of states have rolled out the fourth round of inflation-adjusted federal stimulus checks with more states planning to follow.
Will there be a 4th stimulus check update?
Yes. There will be a 4th stimulus check.
Is there another stimulus check coming in 2022?
Yes. There are plans for a fourth stimulus check.
What states have 2022 stimulus checks?
Alaska, California, Colorado, Delaware, and 15 other states have announced they will be sending out 4th stimulus checks.
Is there a 4th stimulus check?
Yes, many states have already begun rolling out a fourth stimulus check.
who gets the 4th stimulus check?
The government made money available to all U.S. states and it’s up to each state to determine how the relief fund payments will be made. Most states have already declared how their 4th stimulus payments will work.
What states are getting a 4th stimulus check?
You can view details on each state’s stimulus payments here.
- The White Houseaccessed on November 7, 2022
- IRS Child Tax Credit Portalaccessed on November 7, 2022
- IRSaccessed on November 7, 2022
- Arizona Department of Economic Securityaccessed on November 7, 2022
- The Maryland Relief Act of 2021accessed on November 7, 2022
- The New York State Senateaccessed on November 7, 2022