As the year 2024 draws to a close, a number of people can still get government-issued stimulus checks. Payments of these checks could fall on or before Black Friday, one of the most awaited days in the year’s calendar when most Americans are in search of some of the best sales of the year. For many, this additional cash may help offset some costs related to holiday shopping or preparing for Thanksgiving.
Most states have or are in the process of winding down their financial assistance programs; however, a few remain active and are still disbursing funds. Here’s an outline of the stimulus measures that are still in force for the qualified members of the population:
Arizona Family Tax Program
The Family Tax Program in Arizona has been introduced to aid underprivileged families. Under this initiative, families can receive $250 for each dependent who is under 17 years and $100 for those who are 17 years and above. These tax rebates are derived from 2021 income tax returns. Roughly 743,000 residents are predicted to benefit from these provisions giving them further assistance in bearing their family expenses.
California Young Child Tax Credit (YCTC)
In California, qualified families can get Young Child Tax Credit (YCTC) of up to $1,117. This program either provides a cash refund or reduces taxes by the amount of taxes due. In order for families to benefit, they have to earn $30,931 from paid work or less but must have a child below the age of six at the end of the tax year. It is also important to note that almost all conditions to benefit from the state’s Earned Income Tax Credit program (CalEITC) are applicable with some few exceptions.
Arizona’s Family Tax Program was created for supporting low-income families. The Family Tax Rebate provides an amount of $250 for every dependent aged less than 17 years and $100 older than 17 years. These tax refunds are based on 2021 income tax returns. Around 743,000 people are believed to benefit from these provisions thereby giving them additional assistance in meeting their family obligations.
Colorado TABOR Tax Refund
The Colorado TABOR program redistributes surplus state funds to taxpayers each year. Individual taxpayers can receive up to $847, while joint filers are eligible for up to $1,694. This program ensures that excess state revenue is returned directly to residents, providing timely relief as the year ends.
Maryland Child Tax
Maryland extended its Child Tax Credit program to help families with children under six or dependents with disabilities. This initiative provides $500 per qualifying child, regardless of age in cases of disability. Approximately 40,000 households are expected to benefit. The extension allows more families to receive support, ensuring they have additional resources for essentials or holiday expenses.
New Mexico Tax Rebate
In New Mexico, taxpayers who filed their 2023 returns by May 31, 2024, are eligible for a state tax rebate. Married couples filing jointly can receive up to $1,000, while single filers can qualify for up to $500. This program offers crucial financial relief for residents who met the filing deadline and income requirements.
As the year draws to a close, these stimulus programs represent some of the last opportunities for financial assistance. For many, receiving these payments before Black Friday could provide much-needed relief during the holiday shopping season. Whether preparing for Thanksgiving dinner or taking advantage of holiday deals, these funds could make a meaningful difference for eligible recipients.
Stay informed about these and other programs by following reliable financial news outlets. With careful planning, these payments could help ease end-of-year expenses for countless Americans.
