Millions of Americans are about to receive up to $1,044 in relief checks as part of the Property Tax, Rent, Heat (PTC) rebate.
$1,044 in Relief Checks
Millions of Americans across the country still rely on the government in terms of financial assistance and rebates. The impact of COVID-19 and the increasing inflation rate have greatly affected American families and they continue to struggle financially.
A relief check worth $1,044 will be released soon to millions of Americans if they hit the deadline. According to a report published in The U.S. Sun, residents in the state of Colorado will get the fund to supplement their expenses in heat, property taxes, and rent which mostly affected low-income families.
Colorado Gov. Jared Polis officially announced the PTC on Monday to the qualified residents in the state. Eligible residents can receive up to $1,044 in relief checks while those who applied this year can receive up to $1,000 refundable tax credit.
Additionally, the PTC program in Colorado aims to provide more than $7 million in relief checks for seniors and persons with disabilities in Colorado.
Criteria To Receive $1,0444 in Relief Checks
Not everyone in Colorado can receive the relief checks because there are set of criteria that residents need to pass to qualify for the PTC program. Here are the criteria:
- Must be a resident in Colorado from January 1-December 31, 2022
- The total income should not exceed $16,925 for single filers and $22,858 for married filing jointly.
- Age 65 or older
- You are a surviving spouse, age 58 or older – keep in mind, if you were divorced before your spouse died, you are not considered a surviving spouse
- You are a disabled person of any age who was unable to engage in any substantial gainful activity for medical reasons
- You paid property tax, rent or heating bills during the PTC period
- You were not claimed as a dependent on someone else’s federal income tax return
Furthermore, the amount will be received based on when the application was processed. If the application is processed before March 10, you should expect your money in April.