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Inflation Struggle: Tax Rebates Sent Out to Help Americans Cope with High Prices

Americans are receiving relief payments to help cope with high costs, and more cash will continue to be sent out next week. Despite the fact that the inflation rate has dropped in recent months, it has been quite high for consumers to handle in the past year, reaching as high as 9.1 percent at one point. As a result, various cities and states have been offering tax rebates to help provide aid for these high prices, according to a report by The US Sun on January 13, 2023.

Two states that are sending out relief next week are Alaska and Idaho. Alaska is issuing relief to residents as part of the Permanent Fund Dividend (PFD) program, which is worth $3,284 for 2022. Applications for last year’s PFD are closed, but those who are still waiting for their 2022 PFD will be able to claim it. To claim the 2023 PFD, Alaskans have until March 31 to apply.

Idaho residents are receiving rebates between $300 and $600, or 10% of their 2020 income taxes (whichever is greater), for those who filed their 2020 and 2021 tax returns by December 31, 2022, and were full-year residents for those years. The Idaho Tax Commission is sending out 75,000 rebates per week and expects to issue 800,000 payments by March 31.

Additionally, California is sending out rebates next week. The Middle Class Tax Refund is worth between $200 and $1,050 depending on filing status, income, and dependents, based on a report by CNET on January 5, 2023. To be eligible, California residents must have filed their 2020 tax returns by October 15, 2021, have lived in the state for at least 6 months in 2020, and still reside there.

 

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