Inflation Relief in March: Everything You Need to Know About Payments This Month!

Inflation relief checks are still being issued in some states and they may not be reported on income tax returns. In this article, read and find out everything you need to know about these payments!

On January 23, the 2023 tax season has officially begun and residents in several states do not have to report the inflation relief payments they received in 2022 on their 2023 federal income tax returns. According to Allcot, this means that these inflation relief payments may not be claimed as income in states like California, Colorado, Connecticut, Delaware, Florida, Hawaii, Idaho, Illinois, Indiana, Maine, New Jersey, New Mexico, New York, Oregon, Pennsylvania, and Rhode Island.

READ ALSO: Inflation Relief Checks: Up To $3,284 In 4 States- See Who Receives Them!

Idaho

According to Avery, the final batch of the state’s Special Session rebates are expected to be issued by the end of March. The amount of the rebates is whichever is greater than 10% of the taxpayer’s 2020 income tax liability or $300 for individual filers and $600 for joint filers.

Maine

In the state of Maine, apart from the inflation relief checks worth $850 that were issued in January, the state is also issuing payments worth $450 to residents to help cover the costs of heating expenses. The payments are expected to be received by the end of March.

New Jersey

Lastly, in the state of New Jersey, homeowners and renters are expected to receive payments in the form of property tax rebates. Like most programs, the amount of the tax rebates depends on the recipient’s income. Homeowners who earn up to $150,000 will receive $1,500, while those who earned over $150,000 and up to $250,000 will receive $1,000. On the other hand, renters who earn up to $150,000 will receive $450.

READ ALSO: Inflation Relief Checks 2023: Will Californians Receive More?