Do you remember when people got up to three rounds of stimulus payments? Well, if you do, you may remember how much support they provided to people dealing with financial hardship. While many people thought they weren’t able to get another round of assistance, that’s actually not the case! Instead, eligible Americans can expect the second part of that third round of assistance. Thanks to the American Rescue Plan, those that had children born in 2021 (or those that claim a dependent on their taxes) may be able to benefit from this opportunity.
How to Get Another Stimulus in 2022?
When qualifying Americans got their third stimulus payment, that money didn’t just come out of thin air. This third stimulus payment, also known as the Economic Impact Payment (EIP), actually came from a portion of their tax refund that they got in advance. The tax refund came from the 2021 Recovery Rebate Credit. Now keep in mind, when doing taxes for the previous year, you get the funds the following year. So because tax day is on April 15th, 2022, the return for your 2021 taxes will be issued at some point in 2022. Even though tax day has passed, those that filed an extension still have until October, 2022 to file their taxes.
If you qualify for the Recovery Rebate Credit, you may be able to reduce any tax you owe for 2021. On the other hand, it could instead be included in your tax refund! Our rule of thumb is always take advice from a tax professional in order to understand what you may or may not qualify for. They can better understand your eligibility better than an article online can!
Who’s Eligible for the Recovery Rebate Credit?
Some of the qualifying criteria for this credit includes:
- Tax filers must have a dependent that is younger than 19 years old by the end of 2021 unless they are a student
- Dependents can be any age if they are permanently disabled
- The dependent must have a specific relationship to the taxfiler. This includes as a child, sister, brother, foster child, stepbrother, stepsister, half-brother, half-sister, or a descendent of any of them
- The taxfiler must meet income requirements
Are There Other Stimulus Opportunities Other Than the Recovery Rebate Credit?
Luckily, some Americans have been able to get even more assistance besides the funds from the Recovery Rebate Credit. Some states have decided that they want to provide their residents additional support. A few states that offer additional stimulus benefits include:
Arizona
Plenty of people have been dealing with unemployment. As a way to encourage people to get back into the workforce, Arizona offered $2,000 to individuals as a Return-to-Work bonus. Individuals that received unemployment benefits during a certain timeframe that provide verifiable documentation may be able to benefit from this opportunity. However, applications are no longer accepted. Individuals have received these stimulus funds. If you have any questions you will want to get in touch with [email protected].
California
California helps their residents in plenty of different ways. One of the ways that they provide assistance is through an additional stimulus payment! Eligible middle-class families can receive up to $600 if they meet eligibility guidelines. However, they could also get an extra $500 if they have children. This means qualifying families can get up to $1,100 in additional assistance!
Florida
Some people had to work harder during the pandemic than others. That is why Florida offers up to $1,000 with the Florida’s Heroes Initiative. This initiative can provide first responders some assistance. First responders aren’t just EMTs, it also includes paramedics, firefighters, police officers, principals, and teachers.
There were more than 193,000 people that could benefit from this stimulus opportunity. It’s important to note that not everyone received these payments at once. Instead, some were handed out by the Florida Governor directly. On the other hand, other payments mailed directly to home addresses.
Maine
Maine is known for their lobsters. However, they can also be known as a state that provided assistance to those that worked throughout 2020. Maine’s Department of Administrative and Financial Services (DAFS) provided payments of $285 to those that met eligibility criteria. If a person qualified, they would receive their funds through a mailed check. Individuals are still eligible to benefit from this stimulus. The application window closes on October 31st, 2022.
Maryland
The Maryland Relief Act of 2021 gave qualifying families up to $500 if they filed for the Earned Income Tax Credit (EITC). If an individual instead of a family applied for this credit, they could get up to $300 instead.
Michigan
Children are the future of America. That is why full-time child care professionals in Michigan can get bonuses of up to $1,000 through the Child Care Stabilization Grant. Qualifying child care professionals would be able to receive this bonus through their employer.
Tennessee
Another state that aimed to provide assistance to teachers is Tennessee. While eligible teachers may be able to receive another stimulus payment, the amount that they would get varies depending on the district. If you are an individual that thinks they may be eligible in Tennessee then you will want to get in touch with your school district for more details.
Vermont
While Vermont was a state that gave frontline workers payments of up to $2,000 back in January 2021, they are still trying to provide supportive opportunities. Vermont is trying to get people to move into their state. They can encourage people to do this by reimbursing up to $7,500 in qualifying moving expenses to those that work in specific industries. However, the window for the relocation incentive has come to an end. Luckily, there is the New Remote Worker Grant that may be able to help until the funding of $130,000 has run out.
What if You Don’t Qualify for More Stimulus Assistance?
Sadly, you may not qualify for another stimulus payment. Luckily, there are still plenty of other ways that you can get support. You may benefit from looking into government programs. The government understands that there are people in need. That is why they have programs that can provide assistance to those dealing with financial hardship. Some helpful opportunities include:
- Medicaid
- Supplemental Nutrition Assistance Program (SNAP)
- Housing Choice Voucher Program
Medicaid
Not everyone can afford the cost of health insurance. That is why the government offers Medicaid. Medicaid is a health coverage assistance option that can help qualifying individuals get healthcare. Even though this is a federal program, it is provided by the states. That means states will be the ones to determine eligibility criteria in order to benefit from this opportunity.
Supplemental Nutrition Assistance Program (SNAP)
Another bill that Americans (and all people for that matter) deal with is the cost of groceries. Groceries are expensive, especially for people with more than one mouth to feed! That’s where SNAP can help. SNAP is a program that gives funds to a recipient through an Electronic Benefits Transfer (EBT) card. This card is refilled every month and the recipient can use it anywhere that accepts it as a form of payment. The amount of funds that a person would receive varies based on their application like family size, income level, etc.
Housing Choice Voucher Program
The Housing Choice Voucher Program (also known as Section 8) is a popular housing assistance option that can support eligible Americans. This program would give housing vouchers to qualifying recipients. The recipients can use the vouchers at properties that accept them as a form of payment. Typically, the voucher would cover a portion of the rent thanks to the recipient’s local public housing authority (PHA). A recipient’s PHA would be the one to manage this program. The remainder of the rent is the responsibility of the tenant. Generally, a tenant can expect to pay no more than 30% of their income towards housing costs when receiving assistance from this opportunity.
Bottom Line
Whether you are trying to get an additional stimulus payment or just some extra help, there are a variety of assistance options available. Some eligible Americans can expect to get assistance from the Recovery Rebate Credit, while others may find there are additional stimulus opportunities in their state. If there are no opportunities for you to get a fourth stimulus payment then you may benefit from checking out other government programs like:
- Medicaid
- Supplemental Nutrition Assistance Program (SNAP)
- Housing Choice Voucher Program
