Yes, you have right the headline of this article, there is a new stimulus check alert. This time, even if there has been less media attention to federal assistance programs, some lucky ones could be getting around $1,000. But only in New Mexico. As we have said before, there is not much information available about this check, but we are here to tell you everything we know about!
First of all, you might know the deadline: May 31st. Who is eligible for it? Let’s see.
What is this new stimulus check?
As we already know, a stimulus check is a kind of payment that the Federal Government offers to many people in needing conditions. Commonly, they are people with low income or people in financial hardship. This time, of course, was no exception.
This payment is intended for those families who, given the current economic situation (unaffordable rent, grocery baskets that keep rising in price… or those users who, no matter how much they work, do not see the result of their work in their bank accounts because their earnings are not enough to make it to the end of the month). And as we have been saying, the current economic situation has greatly affected many families, and prices keep tightening. That is why some families may receive up to $1,000, but…
Who can receive the $1,000 check?
Of course, there are conditions. Of course, the first is to live in New Mexico (since it is a payment issued by this state).
The second is a bit more specific: you must have filed your tax return for the year prior to the one that just ended, and in addition, the last condition is even more specific: you cannot appear as a dependent on someone else’s tax return (for example, if you appear on your parents’ return as part of their household, you are automatically excluded from this payment).
Why are they doing it this way?
Because the idea is that this payment, which, although it is not a very large amount (it has a total allocation of 15 million dollars), reaches those people who truly need the money.
When does the money arrive?
If everything goes well and you have submitted your application and your 2024 tax return, it should arrive next June. Especially if you requested direct deposit (in which case it is estimated to arrive on June 19). That said, those who have opted for regular deposit (by postal mail) will have to wait a little longer, but even so, it is expected to arrive by the end of June.
What is direct deposit and postal mail deposit?
Very simple, it is the way you choose to receive the payments. Direct deposit is an instruction you give to the system so that the payment goes directly into a bank account, once the payment is issued, it arrives very quickly, and, most importantly (at least for those of us who are very forgetful), it has no risk of being lost.
On the other hand, there is deposit by physical check or postal mail, in this case, you receive a paper check at your home and you need to go to a bank to cash it. That said, this payment method is riskier because it has a risk of loss or theft. And we’re not even talking about the possibility of it being delivered to the wrong address.
If you ask us, of course we would always choose direct deposit because it seems faster and more reliable to us.
Quick summary
| Item | Details |
| Amount | $1,000 |
| Deadline to apply | May 31st |
| Main requirements | – Resident of New Mexico
– Filed 2023 taxes – Not claimed as a dependent |
| Payment method | Direct deposit or paper check by mail |
| Estimated payment dates | Week of June 19 (direct deposit); end of June (mail) |
| Total funds available | $15 million |