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Why you won’t receive any payout today – and when you can expect it to land in your account


AMERICANS waiting for cash should not expect it to arrive today.

Martin Luther King Jr. Day is one of the federal holidays and it lands on the third Monday of every year.

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Tax refunds are not granted on a federal holiday

This year, it reflects Monday, January 16.

When a federal holiday arrives, the post office is closed and mail will not be delivered that day.

The USPS is scheduled to resume service on Tuesday, January 17.

But some groups of Americans could be affected.

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MONEY OUTPUT FROM THE STATE AND THE FEDERALITY

A few states send tax refunds to eligible residents.

For example, certain groups of California taxpayers have still not received the middle class tax refund.

Rebates range from $200 to $1,050.

California sent its latest batch from Dec. 17 to Jan. 14 to direct deposit recipients who have changed their banking information since filing for 2020 taxes.

Another state is Idaho, where residents receive rebates between $300 or $600 depending on the state filing.

It could also be 10% of a taxpayer’s income taxes in 2020, whichever is greater.

Approximately 75,000 checks are sent each week.

Colorado single filers will receive a $750 tax refund, while joint filers will receive $1,500.

Those who requested an extension and submitted their tax returns by October 17 can expect refunds by January 31.

At least 11 states offered tax refunds in 2022.

Additionally, the Internal Revenue Service sends $1,200 in refunds to 12 million taxpayers.

WHEN CAN YOU EXPECT YOUR MONEY

When your money arrives may depend on the payment method you selected on your tax return.

For example, those expecting a direct payment typically see it in their bank account within days, while paper checks can take three weeks or more.

Some states have tracking tools in place that allow residents to track their money.

For example, Idaho residents can check their refund status online with the State Tax Commission.

MORE MONEY THIS YEAR

There are also other new cash programs to keep in mind for 2023 that you may be eligible for.

To deal with escalating costs in Alexandria, Va., the city is spending $3 million on a program called “ARISE,” which will provide $500 a month to people in financial difficulty.

Applications closed in November and payments are expected to begin in February.

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In addition, there are also several rebate programs for renters and landlords to facilitate payments.

And check out the full list of cities and states with Universal Basic Income.



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