You could qualify to receive a $500 check from this one state. With cost of living on the rise, states are conducting multiple initiatives to assist their residents offset associated living expenses costs. From a federal approach, the last time widespread stimulus payment initiatives to cope with a period of economic crisis was during the COVID-19 pandemic, where the Biden Administration released three rounds of Economic Impact Payments (EIPs) to help citizens cope with widespread sudden job loss.
The role of stimulus checks during COVID-19
Stimulus checks are generally released by both local and federal governments in order to encourage spending in the economy during times of low economic downturn in order to prevent a recession occurring. During the COVID-19 pandemic, unemployment statistics hit highs not seen since the Great Depression, meaning many families and individuals were left to deal with unexpected expenses without an income.
Between March 2020 and March 2021, the federal government released three rounds of EIPs in order to assist citizens with the financial crisis associated with the pandemic. The most recent tac season was the last chance you had to claim the final EIP payment amounting to $1,400. With the passing of the most recent ‘Big, Beautiful Bill’ citizens can soon expect more once off stimulus check initiatives to come their way provided that you meet the qualifying criteria.
Individual states are, however, continuing to go ahead with their own stimulus check initiatives in order to assist their residents with the current cost-of-living crisis many families are currently facing. This one state is set to send out $500 to their residents if you meet the eligibility criteria.
Who is eligible to receive $500 checks?
If you call yourself a resident of Georgia, you may soon be expecting a $500 check from the state government. This year, the state announced that they will be crediting tax payers with a refund due to the tax surplus the state has encountered this year. In order to qualify to partake in the distribution of the surplus, you must ensure that you meet the following criteria:
- You filed your Individual Income Tax Return for tax year 2023 and tax year 2024 by the May 1, 2025 deadline (or by October 15, 2025 if an extension was granted)
- You had a tax liability for tax year 2023
- You are a Georgia resident, part-year resident, or nonresident
According to the Georgia Department of Revenue, the surplus is due to the new piece of legislation recently signed into law by Gov. Brian Kemp which brought $1 billion worth of tax relief to Georgia citizens as well as lowering the corporate income tax from 5.39% to 5.19%.
When you can expect to receive your rebate?
If you filed your Individual Income Tax Return by the May 1 deadline, you can expect to have your refund distributed within six to eight weeks. This means that the majority of these payments should have already been issued to eligible beneficiaries, however, you can use the Surplus Refund Checker tool to confirm if you still are waiting on your rebate to be distributed to you.
Your rebate amount is structured in the following way:
- $250 for single/married couples filing separately
- $375 for Head of Household
- $500 for married couples filing jointly
In addition to Georgia’s once-off tax surplus check, other states are also distributing their own once-off payment programs to residents. New York state in particular has been offering multiple once-off payments to their residents as part of the new 2025 budget. From mid-October this year, the state will be sending out once-off inflation rebate checks worth up to $400 for eligible residents in order to offset the costs associated with rising inflation rates in the most expensive state in the nation.
Disclaimer: Our coverage of stimulus checks, tax reliefs, tax rebates, tax credits, and other payments is based on the official sources listed in the article. All payment amounts and dates, as well as eligibility requirements, are subject to change by the governing institutions. Always consult the official source we provide to stay up to date and obtain information for your decision-making.
