A number of taxpayers are currently in anticipation of tax refunds or inflation reimbursements, and seeking ways to monitor their stimulus checks through the Internal Revenue Service. This information is critical if you’re awaiting the second, third, or even the fourth stimulus checks, as it provides details on eligibility and updates on their status. Specific states such as Pennsylvania, Georgia, and Colorado have issued inflation refund checks, termed ‘rebate checks’, to taxpayers or property owners, each with unique eligibility requirements and conditions.
Several other states including New York have also been or are in the process of distributing ‘inflation relief checks’ to residents. This action has been prompted by the higher sales taxes citizens faced as a result of inflation. These distributions are single-time payments, the amounts of which vary based on income. More specifically, individuals with an income cap of $75,000 are receiving $200, while married couples with a combined income of up to $150,000 can expect $400.
The genesis of the stimulus checks saw individuals entitled to up to $1,200, with married couples receiving up to $2,400, with an additional $500 per dependent child below the age of 17. The second round of payments offered $600 to individuals, $1,200 for partnered taxpayers, and $600 for each qualifying child below 17 years of age.
The presence of the third stimulus check brought with it $1,400 per eligible individual and $2,800 for eligible married couples, with each qualifying dependent contributing an extra $1,400. The lapse to apply for this third and final stimulus check was set at April 15, 2025. This date was the three-year deadline to make any claims on tax refunds, or in this case, the $1,400 Recovery Rebate Credit for the 2021 fiscal year.
It is usually recommended to liaise directly with the Internal Revenue Service (IRS) or a credible tax professional when dealing with issues such as missing stimulus payments or to claim the applicable Recovery Rebate Credit on your tax return, assuming you qualify. Remember that even on the chance that a tax extension was granted, the 2021 tax return was still due by the April 15, 2025 deadline to claim the third stimulus check.
No opportunities for extensions or appeals are available if the deadlines were missed. Unclaimed stimulus payments default to becoming the property of the U.S. Treasury Department. There have been some rumors circulating, especially on various social media platforms about the expectation of a fourth stimulus check of a sum of $2,000.
However, no official confirmation or endorsement of the rumors about the fourth stimulus check has been given from either Congress or the IRS as of now. As a result, such claims should be treated with skepticism and caution, as they may constitute misinformation or even potential fraud.
Notably, in February, Trump was quoted saying that he was considering a proposal suggesting the dispersion of $5,000 stimulus checks to taxpayers. He framed this proposal as a ‘DOGE dividend’ during a conference held in Miami.
He proposed utilizing a portion of the 20% savings ascertained by Musk’s Department of Government Efficiency (also known as DOGE) and giving it back to the taxpayers. Since this announcement, however, no additional information or specifications were supplied to further explain the ‘DOGE dividend’ concept or provide any certainty regarding its future implementation.
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