Thousands of Americans are set to receive a $1300 stimulus check in March 2024. This update comes as part of the American Rescue Plan Act of 2021, aiming to provide financial relief to millions.
On Tuesday, 5 Mar 2024, it was announced that residents of Minnesota who received state rebates last year would be eligible. These rebates, known as Walz checks, are part of a $3 billion tax relief law for Minnesota.
Summary of 1300 Stimulus Check Update
| Aspect | Details |
|---|---|
| Date | March 2024 |
| Eligible Residents | Those in Minnesota who received state rebates last year |
| Payment Amount | $1,300 |
| Source of Funding | American Rescue Plan Act of 2021 |
| Taxation | Subject to federal taxes; not state taxes in Minnesota |
| Total Eligible Recipients | 128,000 |
| Official Website for More Information | www.revenue.state.mn.us |
| Contact for Eligibility Confirmation | Minnesota Department of Revenue |
Residents who got these rebates are part of Governor Tim Walz’s One Minnesota Budget initiative. These payments are intended to support those impacted by the economic conditions.
Eligibility Criteria
Not everyone will be eligible for the new $1300 stimulus payment in 2024. There are specific qualifying requirements set by the state.
For instance, joint filers with a gross income cap of $150,000 could get a $520 rebate. Individual filers with a maximum gross income of $75,000 could receive a $260 rebate. Families with dependents could get more, with the possibility of a $1,300 rebate for some.
Tax Implications
The IRS has determined that these rebates will be subject to federal taxes. Minnesota citizens might need to pay between $26 and $286 in federal taxes on these rebates.
This taxation is based on the overall rebate amount and the household income. The state of Minnesota, however, will not levy state taxes on these rebates.
Payment Tracking
The IRS has developed a service called Get My Payment. This allows residents to track the status of their $1,300 Payment 2024.
This system is updated daily and provides information on when the payment is processed and scheduled for delivery. Recipients should receive a notice from the IRS within 15 days of the payment being issued.
Conclusion
The $1,300 stimulus check update is a significant development for thousands of Americans, especially residents of Minnesota. This financial aid reflects the government’s ongoing efforts to provide economic relief to those affected by the pandemic.
To ensure you are eligible and for more detailed information, check the official website or contact the Minnesota Department of Revenue directly.
Frequently Asked Questions
What is the $1300 stimulus check update?
The $1300 stimulus check update is part of a financial aid initiative under the American Rescue Plan Act of 2021, providing $1,300 payments to eligible Minnesota residents in March 2024.
Who is eligible for the $1300 stimulus check?
Residents of Minnesota who received state rebates last year due to the $3 billion tax relief law are eligible for the $1300 stimulus check.
Will the $1300 stimulus checks be taxed?
Yes, the $1300 stimulus checks will be subject to federal taxes, but not state taxes in Minnesota.
How can I track the status of my $1300 payment?
You can use the IRS’s Get My Payment service to track the status of your $1300 payment, including processing and delivery times.
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