Receive up to $4,555 from Three Direct Payments going out Next Month

Three major payments are dropping next month, including the Colorado Property Tax/Rent/Heat Credit (PTC) Rebate, Alaska’s Permanent Fund Dividend (PFD), and the Colorado rebate to help low-income seniors offset energy and housing costs.

First is Alaska’s Permanent Fund Dividend (PFD). Alaska distributes the PFD to most residents every year, regardless of when they file their tax return. Those classified as eligible but not paid on April 12 are due a payment on April 20. The PFD is worth a total of $3,284 for 2022, but only $2,621.81 of it is taxable income.

Second is the Colorado property tax, rent, or heat credit (PTC) rebate. The PTC in Colorado is aimed towards persons who are old and disabled. To qualify, you must be 65 years old, have a surviving spouse, or be disabled at any age. You must also have an annual income of less than $16,925 and have been a Colorado resident all of last year. The maximum payment is $1,044 and those who applied for the rebate are slated to either get a direct deposit or a paper check on April 15.

The third is from Social Security. Social Security recipients will receive their fourth check due to the 2023 COLA, with an average of $140 more a month than last year. The full Social Security schedule for the next few months is as follows: May 2023, June 2023, July 2023, and August 2023.

SSI recipients usually get paid the first of the month, but not in April due to the COLA increase. However, April 1 falls on a Saturday, so recipients will get their payment one day early on March 31. The maximum payment for an individual receiving SSI is $914. Check out which basic income program is now accepting applications( Johnson, 2023).