THE deadline to qualify for stimulus payments in Colorado and New Mexico is rapidly approaching.
In both states, residents may need to take action soon to receive direct payments.
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The federal government disbursed its last round of stimulus in March of last year.
However, many households are still facing serious economic hardship, especially as inflation drives prices up.
As a result, states have stepped up and started offering rebates or payments to help struggling Americans on a more local level.
If you live in Colorado or New Mexico, here's what you need to know about claiming cash in your state.
Colorado extends deadline
Roughly 3.1million Coloradoans will receive tax rebates worth between $400 for individuals and $800 for joint filers.
The rebate amount will be based on 2021 tax returns, and you need to file your taxes by June 30, 2022 to receive the rebate.
Colorado's legilature intially set the filing deadline as May 31, but extended it by a month to allow more taxpayers to claim the cash.
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The rebates aim to offset inflation, which has taken a toll on Americans' wallets.
To qualify for the payment, you must be a full-time Colorado resident.
Eligible taxpayers can expect to receive their money in the mail in August or September, according to the state.
It’s unclear if payments will go out in multiple batches, or all at once.
Coloradoans who miss the deadline can still receive the payment if they file by the extended filing deadline of October 17.
However, taxpayers who file after June 30 won't get their checks until January.
New Mexico closing aid for non-filers
Governor Michelle Lujan Grisham announced that payments from the state's tax rebate program started going out in late May.
Individual tax filers will get $250, while married couples filing jointly and head of household filers will receive $500.
Payments are on their way to more than 550,000 New Mexicans, according to the governor's office.
To receive the rebate, taxpayers in New Mexico have a bit of breathing room.
You need to file your 2021 taxes no later than May 31, 2023, to be eligible for the payment.
For non-filers, the deadline is more urgent.
In addition to the state's tax refund programs, New Mexico lawmakers also approved a separate stimulus package for non-filers.
Couples or people with dependents can receive up to $1,000, while individuals can get up to $500.
The New Mexico Human Services Department will accept applications for non-filers until the end of May.
Although May 31 is the deadline to apply, the state may extend the application window if funding for non-filers runs out.
These payments will be sent out by July 3.
The New Mexico Taxation and Revenue Department has a page set up explaining all the payments the state has approved if you have any further questions.
Here's more from The Sun on eight states handing out free cash in stimulus payments this summer.
And check out The Sun's stimulus live blog for the latest news on direct payments.
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