Citizens eagerly anticipate both tax refunds and the potential issuance of a stimulus check in 2025, either from President Donald Trump or from the Internal Revenue Service (IRS). An overview of the second, third and fourth stimulus checks, their respective amounts and eligibility, as well as their current statuses, is provided herein.
The initial stimulus check provided up to $1,200 per individual, $2,400 for couples filing jointly, and an additional $500 for each eligible child younger than 17. Subsequently, the amount of the second stimulus check dropped to a maximum of $600 per person, $1,200 for couples, and $600 for each eligible child under 17.
The third stimulus check increased again, offering $1,400 per eligible person, with married couples who file jointly receiving an extra $1,400 for each eligible dependent. However, the time frame for claiming or applying for the first (March and April 2020), second (by January 15, 2021), or third (March to December 2021) stimulus checks has expired.
Deadline to apply for the last, the third stimulus check, was set to April 15, 2025. This date also served as the three-year cut-off for claiming tax refunds or the $1,400 Recovery Rebate Credit for 2021.
To address missing stimulus payments or claim any relevant Recovery Rebate Credit on one’s tax return, working directly with the IRS or a trustworthy tax professional is highly recommended. This holds true regardless of whether a tax extension was granted or not. Evading the need to file the 2021 tax return by April 15, 2025, to claim the third stimulus check was an impossibility.
It should be noted that there are no opportunities for extension or appeal regarding missed deadlines. Any stimulus payments that remain unclaimed revert to the ownership of the U.S. Treasury.
While there are rumors concerning a fourth stimulus check of $2,000, no official confirmation has been received from either Congress or the IRS. Any news in this regard should be handled with skepticism, as it might be misinformation or a fraudulent attempt.
President Trump made a statement in February, during a conference in Miami, about considering a proposal to distribute $5,000 stimulus checks to taxpayers in the form of a “DOGE dividend.” Trump’s discussion revolved around utilizing a portion of the savings identified by Musk’s Department of Government Efficiency (DOGE) as a source for these checks. Specifics or additional details regarding the “DOGE dividend” or its likelihood have not been shared subsequently.
For those anticipating receipt of their tax refund, ensure to keep track of its status. If your federal taxes were filed electronically and your banking information was included, you can expect a direct deposit within 21 days. However, if your banking information was omitted, your paper check refund should arrive via mail within a six to eight-week window.
It’s important to differentiate between submitting your return and receiving acceptance from the IRS. The moment your return is accepted, you will be informed with a ‘Refund Sent’ alert when checking your tax return status online. From that point forward, the wait for the appearance of the funds in your account won’t be extended.
After IRS’s approval of your refund, it should hit your bank account within days, provided that the direct deposit option was chosen. The IRS provides an online tool called ‘Where’s My Refund’ to help taxpayers keep track of their refund progress.
The refund information is refreshed daily overnight on the IRS website. To utilize this tool, you need to enter your Social Security number, filing status, and the exact amount of refund shown on the return. After providing this information, it will indicate one of the following statuses: return received (processing), refund approved (preparing to issue refund by date shown), or refund sent (sent to your bank or in the mail).
The moment the status shifts to ‘the IRS has approved your refund,’ you can expect the refund to hit your bank account within a few days, assuming you’ve utilized the direct deposit option.
The post Overview and Anticipation of 2025 Stimulus Check and Tax Refunds appeared first on Real News Now.
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