A new round of state checks in Alaska could see residents taking home $1,300 extra.
Courtesy of the Permanent Fund Dividend (PFD), Alaska will send out $1,312 checks to those with an "Eligible-Not-Paid" status as of March 13. The payments officially go out on March 21 and support residents with earnings from Alaska's mineral revenue.
Each year, the checks go out to all eligible residents starting in October.
"The 2023 PFD marks the 42nd year Alaskans have received their share of the state's natural resource wealth," Alaska Department of Revenue Commissioner Adam Crum previously said in a statement. "I would like to thank our Permanent Fund Dividend Division for their tireless work year-round in administering the program and processing the applications."
Crum said for 2023, the state processed 8,000 more applications than in 2022, and the PFD will ultimately inject $1 billion back into Alaska's economy.
To qualify, there are just a few things Alaskans need to know. For one, they can't have any plans of leaving the state anytime soon. The PFD also doesn't go to any convicted felons in the state. However, if you're eligible, you'll be able to apply from now until March 31 either online or mailed.
Matt Stratman, the president of United Tax.AI, said the PFD has been widely linked to increased employment opportunities and economic growth in the state, especially as many residents remain cash-strapped amid high inflation.
"By providing a financial cushion, the PFD empowers Alaskans to invest in their futures, whether through education, entrepreneurship, or other avenues for personal growth," Stratman told Newsweek.
The payments take advantage of Alaska's inherent natural resources and share that wealth equally with all residents.
"As this month's checks are distributed, Alaskans can appreciate the unique opportunity this program offers and its potential to positively impact their lives," Stratman said.
Other Payments Available
Since federal stimulus payments ended in 2021, many Americans have been wondering if a new check is around the corner in 2024.
Altogether, 476 million payments totaling $814 billion in financial relief were processed throughout the pandemic.
However, experts say it's unlikely the federal government would send out any new payments four years out from the coronavirus.
"The focus has shifted to economic recovery, and additional stimulus checks are not a part of current legislative agendas," Zack Hellman, the founder of Los Angeles accounting firm Tax Prep Tech, previously told Newsweek.
Some states have created their own rebates to support struggling residents throughout this period of economic uncertainty, however.
For instance, Pennsylvanians can earn an extra $1,000 after the state expanded its property tax and rent rebate program.
Roughly 175,000 more Pennsylvanians will earn the property tax or rent rebate.
In Vermont, the Property Tax Credit is helping people pay their property taxes. Residents are eligible based on their 2023/2024 property taxes if their property qualifies as a homestead and they meet other criteria.
The amount available depends on several factors, but the maximum credit is $5,600 for the education property tax portion and $2,400 for the municipal property tax portion.
Uncommon Knowledge
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
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Suzanne Blake is a Newsweek reporter based in New York. Her focus is reporting on consumer and social trends, spanning ... Read more
