A NEW round of funding totaling $1,702 is about to be distributed to select Americans within a few days.
This money is part of a state initiative that rewards local residents.
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Credit: Getty
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Credit: Getty
Known as the Permanent Fund Dividend, Alaska is providing financial support to those who have resided in the 49th state for a considerable time.
This serves as a reward for their dedication to the state.
The application window for the Permanent Fund Dividend officially began on January 1 and will remain open until March 31.
Alaskan residents can apply by creating a MyAlaska account and completing the necessary form on the state’s government website.
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Individuals who submitted their applications between February 12 and March 12 will have the funds deposited into their accounts by the week’s end.
The confirmed dividend payments amount to $1,702 each, with disbursement scheduled for March 20 for those who applied during the specified period.
Funding for the Permanent Fund Dividend is sourced from the Alaska Permanent Fund, which manages the state’s oil revenue.
Genevieve Wojtusik, the division director for the fund, affirmed that the payments would be issued “in a timely manner” in a recent statement.
“Our mission is to ensure that all eligible Alaskans receive their dividends promptly, to prosecute fraud, and to treat all internal and external stakeholders with respect,” Wojtusik stated.
Applicants can also check their application status on the state government website.
ELIGIBILITY CRITERIA
Residents must fulfill certain essential criteria to qualify.
Foremost, they must be residents of Alaska for the entirety of 2024.
Applicants should not have established residency in any other state or country, nor claimed benefits due to such residency since December 31, 2023.
Additionally, applicants cannot have been sentenced for a felony in 2024, nor can they have been incarcerated as a result of felony or misdemeanor convictions.
ALASKA PDF VS. STIMULUS
The PDF payment differs from the stimulus checks that Americans received during the pandemic.
PDFs are allocated to residents in specific regions from earnings generated by a permanent or sovereign wealth fund.
Alaska has its own sovereign wealth fund, the Alaska Permanent Fund, which was established in 1976.
This fund is primarily financed through revenue derived from Alaska’s oil and gas reserves.
Each year, a portion of these funds is distributed among Alaskan residents as a dividend.
Additionally, applicants must have been physically present in Alaska for at least 72 consecutive hours in both 2023 and 2024, with the maximum absence allowed being 180 days.
These requirements ensure that applicants demonstrate loyalty to the state and have genuine intentions to remain in Alaska.
TAX REFUNDS
Recently, over eight million Americans received cash through tax refunds issued by the Internal Revenue Service (IRS).
The average refunds from federal tax returns this year stand at approximately $2,065.
However, this figure represents about a 32% decrease compared to 2024, based on IRS statistics.
Americans should be mindful that the deadline for filing tax returns is rapidly approaching on April 15.
Those who are unable to file by this date should seek an extension before the deadline expires.
Failure to do so may result in significant penalties.
