The third round of stimulus checks are still not certain as discussions are ongoing over the amount and eligibility criteria. However, some people in Maryland are sure to get coronavirus stimulus checks in the next few days, thanks to the state’s $1.2 billion RELIEF Act of 2021.
Maryland approves coronavirus stimulus check
On Monday, the Governor of Maryland Larry Hogan signed a bipartisan stimulus bill costing about $1.2 billion, called the RELIEF Act. And, on Tuesday, Maryland Comptroller Peter Franchot outlined how the Comptroller’s Office would process the payment under the state’s RELIEF Act. The Maryland General Assembly passed the bill last week.
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As per the plan outlined Tuesday, 422,531 people would be eligible for the one-time stimulus payment. This one-time stimulus payment would be $300 for individuals or $500 for families. As per the Comptroller’s Office, about 98% of the payments would be processed by February 19.
Additionally, the Comptroller’s Office said 3,200 people, who are awaiting unemployment insurance adjudication, will get $1,000 in grant money once the Maryland Department of Labor sends them the list of recipients.
Moreover, the RELIEF Act also waives the state income taxes on Unemployment Insurance income. To claim this waiver, a taxpayer needs to file an amended return for a full refund.
"The RELIEF Act also includes waiving state income taxes on Unemployment Insurance income received during 2020 and 2021 for single filers who report under $75,000 in income and joint filers who report under $100,000,” the Comptroller’s Office said.
Who would qualify?
Those who claimed the Earned Income Tax Credit in the tax year 2019 would qualify for the stimulus check. On the other hand, those who claimed the EITC in 2020 (or the following years) won’t be eligible for the payment. Rather, they would qualify for a higher refund on their taxes in the current year and through 2023.
Following is the income requirement for those who would qualify for the stimulus payment:
- $50,954 for those having three or more qualifying children ($56,844 married filing jointly).
- $47,440 for those having two qualifying children ($53,330 married filing jointly).
- $41,756 for those with one qualifying child ($47,646 married filing jointly).
- $15,820 for those with no qualifying children ($21,710 married filing jointly)
To know more about the stimulus payment and to check if you qualify, visit www.MarylandTaxes.gov/ReliefAct. If you need any help on the direct payment, taxpayers can call 1-833-345-0787 or email [email protected]
If you are eligible for the payment, you don’t need to do anything as the payment would be processed automatically. The payment would be either via direct deposit or paper check.
Franchot informed that his office has already started sending out the stimulus checks. People should start seeing direct deposits in their bank accounts by Friday, while paper checks would be mailed in the coming days.