1704 Stimulus Payment Date: What day this week will you receive this check?
According to Marca, Alaskans are set to receive $1,704 as part of the state’s initiative to share profits from natural resource sales with qualifying residents through the Permanent Fund Dividend (PFD). This amount also includes a one-time energy relief payment authorized by the state’s Department of Revenue to help residents cope with the challenges of the ongoing cost of living crisis, especially during the cold Fall and winter months.
Why the Energy Relief Payment?
Alaska has been particularly affected by the cost of living crisis, facing unique challenges due to its isolation and harsh climate. The demand for energy is higher, and the costs for transporting and importing goods are elevated. With a population of just 800,000—compared to New York City’s eight million—Alaska’s rural nature means businesses can charge higher prices due to limited competition. As a result, Alaska ranks as the fourth-most expensive state to live in.
Who Qualifies for the Benefit?
All residents who lived in Alaska for the 2023 calendar year qualify for the PFD, provided they did not leave the state for an extended period, except for military service or educational needs. However, there are additional eligibility criteria for the PFD. For instance, individuals with felony convictions resulting in incarceration or sentencing in 2023 will be ineligible, as will those with misdemeanor convictions in Alaska if they have a prior felony conviction or two or more misdemeanors since January 1, 1997.
Also read: Social Security: Which recipients will get an average payment of $1,580 in 2025 thanks to COLA?
When Will Payments Be Made?
Payments began to be distributed via direct deposit on October 3, 2024. Paper checks will be mailed out before the end of the month, with all checks scheduled to be distributed by Thursday, October 31—coinciding with Halloween. The next payment date for direct deposits is set for Thursday, October 24.
Of the total payment, the energy relief bonus accounts for $298.17, while the PFD itself makes up $1,405.83 of the overall amount. This financial support aims to ease the burden on Alaskans as they navigate the rising costs associated with living in one of the country’s most expensive states.
