$1,702 Stimulus Payments for May 2025: When will you get paid?

$1,702 Stimulus Payments for May 2025: Alaska residents will receive substantial economic relief between 2024 and 2025. This year, the Permanent Fund Dividend (PFD) has risen by 30%, resulting in a total payment of $1,702 for eligible beneficiaries. This payment consists of two components: a PFD Dividend of $1,403.83 and a one-time Energy Assistance payment of $298.17.

This payment is not just economic support but an example of directly delivering earnings from the state’s natural resources to the public. Its purpose is not only to provide relief to the people but also to strengthen the economic activities of Alaska.

Background of Alaska Permanent Fund

The Permanent Fund was established by the Government of Alaska in 1976. Its purpose was to collect a portion of the revenue from oil and provide long-term benefits to the people of the state.

This fund is managed in such a way that it can provide income to eligible residents every year. On the one hand, this increases the purchasing power of the people, while on the other hand, it boosts investment and consumption in the state’s economic system.

Who is eligible for this payment?

It is mandatory to follow some necessary conditions to receive PFD:

• Full calendar year residence: The beneficiary must be a resident of Alaska for the entire year immediately preceding the date of application.
• Intention of permanent residence: At the time of applying, the applicant must have the intention that he will stay in Alaska indefinitely.
• 72 hours of residence in the last 24 months: The applicant must have spent at least 72 hours in Alaska in the last 24 months.
• Criminal record: No felony crime should have been committed in the last 12 months. Also, people who have been convicted of a crime more than twice since January 1, 1997, are also not eligible.

Exemptions for certain categories

If you applied before March 31 and you are a physically disabled person or were receiving hostile fire or imminent danger pay while serving in the military, and you applied for an exemption from the Alaska Department of Revenue, your payment process may be different.

Payment dates

The state has announced clear payment dates for eligible beneficiaries:

• Payments to 2024 (or earlier) beneficiaries who were in “Eligible-Unpaid” status as of April 9, 2025, will be made on April 17, 2025.
• Payments to beneficiaries who were in “Eligible-Unpaid” status as of May 7, 2025, will be made on May 15, 2025.

This means that if you have applied and your status is “Eligible-Unpaid,” you will receive payments on the dates above.

How will I get paid?

Most importantly, the 2025 IRS stimulus checks (PFD payments and energy assistance) will be transferred directly to the bank account. There is no need to apply separately for this. Eligible people will either get this amount directly deposited in their bank accounts or sent in the form of a check.

So it is very important that you keep all your details updated in your IRS profile and have filed your previous years’ tax returns.

Conclusion: An important step towards economic stability

Alaska’s permanent fund payment model shows how the benefits obtained from natural resources can be extended to the general public. This assistance amount of $1,702 not only provides economic security, but it also gives relief to those who are struggling with rising inflation and living challenges.

If you are a resident of Alaska and meet all these conditions, then this is the chance for you to take advantage of this assistance and make your economic future a little stronger.

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