Get Ready for 4th Stimulus Check IRS Tax: Release Date, Eligibility, Eligible States

A Brief History of Stimulus Checks in the U.S.

The stimulus check initiative began in 2020 with the first payment under the Coronavirus Aid, Relief, and Economic Security Act. The subsequent checks were distributed in 2021 through the Tax Relief Act and the American Rescue Plan. Now, in 2023, the fourth round is on the horizon. However, the receipt of this financial aid is contingent upon one’s state of residence.

This fourth installment, sometimes referred to as the inflation-adjusted stimulus check, is designed to help eligible citizens offset rising costs in essential areas such as food, transportation, and healthcare.

Determining Your Eligibility for the Fourth Stimulus Payment

Curious about your qualification for the fourth stimulus check, which could be anywhere between $200 and $1,700? Here’s what you need to know about eligibility for residents in compliant states:

Individuals should have an Adjusted Gross Income (AGI) under $75,000.
For heads of households, the AGI limit is set at $112,500.
Joint filers must ensure their AGI is below $150,000.

If your AGI exceeds these limits, you might still qualify for a reduced payment. For a thorough understanding of these guidelines, it’s recommended to visit the official IRS website at irs.gov.

Estimating the Value of Your Fourth Stimulus Check

The fourth stimulus check amount varies by state. Here’s a snapshot of potential maximum payments for some states:

Alaska: $3,200
California & Colorado: $1,500
Delaware & Hawaii: $300
Florida: $450
Georgia & Massachusetts & Virginia: $250
Idaho & Oregon: $600
Illinois, Maine, New Jersey, Pennsylvania, Rhode Island, & South Carolina: $975
Indiana: $325
Minnesota: $488
New Mexico: $500

Remember, the actual amount will depend on your AGI. The figures above denote the highest potential payments for eligible residents in those states.

State-Specific Payout Details

Stimulus check recipients will receive their funds via their state’s Taxation and Finance or Revenue Department. For more specific details, consult your state’s official tax department website.

In select states, including Florida, Georgia, Michigan, Tennessee, and Texas, educators are set to benefit from this round. Expected payments for teachers range from $500 to $1,000, a nod to their invaluable contribution to society.