Residents in This State to Get Stimulus Checks of up to $1,300

If you reside in the state of Alaska and previously made the 2024 Permanent Fund Dividend (PFD) stimulus check, you should validate your bank account, a payment of $1,300 has already been mailed, according to the Alaska Department of Revenue’s schedule for stimulus check payments, eligible beneficiaries will receive their next payment on Thursday, May 16.

After the different economic challenges caused by the appearance of COVID-19, various states in the United States still continue to provide economic assistance and stimulus checks to their residents, these payments, including the Permanent Fund Dividend (PFD) that is distributed among Alaska residents, the main objective is to relieve financial pressure on low-income households facing health care costs and high inflation, some of these aid are financed with financial surpluses, while others originate with guaranteed income or with previous tax refunds.

Alaska Permanent Fund (PFD): $1,300 Available for Qualifying Residents

By the initiative taken from Dividends of the Alaska Permanent Fund (PFD), another stimulus check payment of $1,312 that comes from oil profits has already been made, the Alaska Fund makes annual payments to eligible people based on the performance that the fund presents, Adam Crum, commissioner of the Department of Revenue, indicated that “Alaskans will receive a fair share of the state’s natural resource wealth”

The Department of Revenue made the mention that more than 8,000 applications for the PFD were entered this year, which means that thousands of resident citizens are eligible for a new stimulus check payment.

It is idealized that this initiative will inject about 1 billion dollars into the state economy, with a fund of 75,080 million dollars, the FPD intends to invest 36% in public shares and 20% in fixed income by 2023, while allocating the remaining 17% to infrastructure, loans, private income, exceptional opportunities and private capital.

For those who did not apply for this year’s stimulus check payment, there is still hope that in the future you will receive it. The application process for the 2025 PFD payment will open next year. It is a must to keep in mind that once the opening of applications is made, residents should take the opportunity to apply for the next payment of the stimulus check.

According to Adam Crum, Commissioner of the Department of Revenue“. “Alaskans can expect to receive their fair share of the state’s natural resource wealth through the PFD initiative. We are committed to ensuring that this program continues to contribute to the economic well-being of our residents.”

Requirements to Apply for the Alaska Permanent Fund Dividend

General Requirements (Remember that these may vary depending on every specific situation):

1. Legal Residency
   • You must be a legal resident of the United States; non-residents and those without a valid Social Security number are not eligible.
2. Income
   • Have an Adjusted Gross Income (AGI) below the threshold.
   • The stimulus check amount may vary based on income.
   • If you have filed your taxes, eligibility information will be based on the data from the last filed tax year.
3. Age
   • There is no specific age limit for eligibility, but the requirement of not being claimed as a dependent on someone else’s tax return can be a factor.
4. Tax Filing:
   • For most people, no additional application is required to receive the stimulus check. The IRS will gather information from the most recent tax forms.
   • If you have not filed taxes recently, you may need to file a tax return to be eligible.
   • If you receive federal benefits like Social Security, the IRS will use information from SSA-1099 or RRB-1099 forms to determine your eligibility.
5. Dependents:
   • Those with children under 17 years old are eligible to receive an additional amount for each child under 17.
6. Income Requirements (based on the last stimulus check in 2021):
   • Stimulus checks have income limits based on your Adjusted Gross Income (AGI) from your most recent tax return.
   • If your AGI exceeds certain limits, the stimulus check amount is progressively reduced.