A new round of Stimulus Checks is about to launch (in fact, it already has in part), and thousands of people are going to have some extra cash to start the summer in the best way. Want to get a $1300 payment this week? We tell you what the requirements are and how to apply for it, as well as other complementary programs that are compatible and not to be missed. Who said this program was finished? One state has unexpectedly “resurrected” it.
Residents of this state will receive new Stimulus Checks in the coming weeks
On June 3rd, 2024, one-time stimulus checks in the amount of up to $1300 were disbursed to all the residents of the state of Minnesota. These rebates are expected to be one of the things that governors of different states have in mind as they seek ways of bringing back to taxpayers a part of the projected budget surplus.
To be eligible for the $1300 stimulus check, you must meet the following requirements:
- Residency: The following requirements must have been met for you to be a qualified recipient of this refund check: You needed to be a resident of Minnesota in 2021 and claim the renter’s property tax refund or the homestead credit refund by December 31, 2022.
- Tax Filing: You can include this only if you had to file a tax return for the financial year 2021.
- Income: It also boils down to whether your Adjusted Gross Income (AGI) falls below some specified levels.
- Single filers: A business that generates $75,000 or less is considered by most classification systems to be a small business.
- Married couples filing jointly: They qualify to borrow funds amounting to $150, 000 or less
- Head of household: This means that the respondent earned $112,500 or less.
Here’s how you’ll receive the money: the trick to knowing if you’re about to receive the $1300 payment
The government of Minnesota, through the Minnesota Department of Revenue, has been issuing the refunds through direct payments and checks. The payment schedule is as follows:
- Direct Deposit: In its first release, the state sought to issue approximately 1. For instance, it offers $15 million rebates through direct deposits. Out of these, 50,000 could not be processed properly because of problematically entered bank or address data, which led to the submission of paper checks.
- Paper Checks: According to its records, as of August 23, 2023, the state had sent out approximately 170,000 checks to qualifying citizens
Minnesota Stimulus Checks are worrying thousands of citizens. Two questions you might be asking yourself
The $1300 stimulus check application process is non-linear. If you qualify for the program, and you’re enrolled in direct deposit with the state, then you will be issued a rebate through direct deposit. If this is the case, and you have not activated direct deposit, then you will be given a paper check.
There are two questions we want to cover (and that you should keep in mind):
- Taxability: The rebate is not included on the rebate schedule of your Minnesota income tax return; however, it is included on the rebate schedule of the federal tax return. The Form 1099-MISC will be issued to you and will be useful when you are filing your income tax return for the year 2023.
- Reissued Checks: Minnesota is to resend approximately 128,000 one-shot tax rebates that were issued and have not been cashed before their expiration date, according to the Minnesota Department of Revenue. These new checks will be mailed at the beginning of next week, and the process should be done by mid-March.
As you can see, Minnesota Stimulus Checks are an opportunity to receive a payment that will be great for the summer, just when expenses increase (and without taking into account the vacations). If you’re one of the lucky ones who are eligible, be on the lookout for a surprise in the next few days, or maybe even right now. Have you checked your bank account, maybe, today? We’d already be doing it if we were you.
