Direct payments worth $300 going out soon to Americans – do you qualify?

THOUSANDS of households are set to receive $300 tax rebate checks nearing the end of this month.

The payments come as a result of the Idaho state legislature, which passed a bill earlier this month to devote $500million in refunds.

"The successful extraordinary session demonstrates government working for the people,” Governor Brad Little said in early September.

"Returning the people’s money is the right thing to do, and the education investments support families, help us keep up with growth, enhance our quality of life, and prepare a workforce to meet the changing needs of employers," he added.

In addition to just the rebate, on September 1, Mr Little brought on a 5.8 percent flat tax rate for individuals and corporations.

The Idaho State Tax Commission said it will begin processing the $300 payments in late September, reports the Idaho Statesman.

Who qualifies?

All full-time Idaho residents who filed taxes in 2020 and 2021 will receive rebates equaling 10 percent of their 2020 income tax or $300, whichever is larger.

If you were a joint filer in Idaho, you will receive a $600 minimum.

The Idaho State Tax Commission said it would send the checks in the order it received 2021 tax returns, beginning with taxpayers eligible for direct deposit.

Each week, Idaho estimates around 75,000 payments will go out.

If you didn’t file 2020 and 2021 tax returns, you can still receive the rebate if you file by December 31.

Full-time residents who didn’t pay income taxes but still filed tax returns over the past two years can also receive the rebate.

Other states offering tax rebates

Several other states have passed their own plans to send tax rebates to residents dealing with the blow of inflation.

For example, California is providing residents with payments between $200 and $1,050 depending on filing status and income.

These checks will start going out from October 7.

In Colorado, individuals are receiving $750 if they were 18 years old on December 31, 2021, lived in the state all of 2021 and also filed a state tax return.

Alaska residents will get a $650 energy relief payment and another $2,550 as part of the state’s Permanent Fund dividend this fall.

Those who receive direct deposits should have got their cash already, while paper checks will go out starting the week of October 3.

Meanwhile, the state of Hawaii started sending tax rebates in August to help residents deal with rising prices.

Those earning more than $100,000 but less than $200,000 a year will be eligible for $100.

Families will also receive rebates for each dependent in the house, so rebate amounts will vary based on household size.

For instance, a family of four with an income below $100,000 will receive $1,200, while a family of five could get $1,500.

Most taxpayers receiving an electronic check will likely need to wait until the end of September for payments to arrive.

Those who are receiving paper deposits will have to wait longer, likely until the end of October, as it takes three to four more weeks to process.

The Virginia General Assembly has also approved a tax rebate for eligible residents worth up to $500.

Residents who filed their taxes before July 1, 2022, are likely to receive their tax rebate during September or October.

Payments could be as much as $1,500 depending on the state you live in.

Plus, Social Security benefits are set to go out next week.