RUMORS are swirling that Americans will see another round of stimulus checks worth $2,000 as part of a direct deposit program.
See the truth behind these payments, aimed at helping Americans amid the high cost-of-living, as well as other checks you can get your hands on.
Rumors have spread on social media and certain websites regarding a fourth stimulus check worth $2,000[/caption]
During the pandemic, the federal government handed out three stimulus checks ranging from $600 to $1,400 per individual, with additional amounts for dependents.
Issued between 2020 and 2021, the payments were intended to lend a helping hand to struggling Americans and boost economic activity.
Rumors are now circulating on social media and some websites regarding a fourth round of stimulus checks worth $2,000.
They claim that the IRS will hand out the money this month under a targeted federal financial relief plan to help Americans as the cost of living climbs.
Some sources claim that the payments are part of a new relief package for low and middle-income households to combat inflation, with others relate the stimulus checks to rebates or Trump’s previously announced DOGE dividend.
However, there is no official confirmation of the $2,000 payments from official sources such as the IRS or the Treasury Department.
How to check and stay safe
To see if you are slated to receive a check from the government, use the “Get My Payment” tool from the official IRS website at irs.gov, which would display your payment status if a program starts.
Be sure to update your bank account information on the website to avoid delays.
Be wary of scams, as fraudsters are already sharing fake forms and sending text messages regarding the $2,000 checks.
Remember that the IRS will never ask you to share personal information via email or phone.
Without Congress passing a new law, a fourth round of stimulus checks is likely just speculation, and such claims may be misleading or false.
ARE YOU ELIGIBLE?
If the IRS were to send out a $2,000 payment, requirements to get the cash would likely mirror past stimulus check eligibility.
For example, based on earlier programs, single individuals with an annual income below $75,000 would likely qualify, as would couples who file their taxes jointly and make less than $150,000.
Being a US citizen or legal resident with a Social Security number would also likely be an eligibility requirement, as would filing a 2024 tax return or qualifying for benefits such as Social Security or Supplemental Security Income.
Americans claimed as a dependent on someone else’s return would most likely not qualify to receive the $2,000.
If the fourth round of stimulus checks were real, the direct deposits would likely begin in mid-August, with checks mailed shortly after.
WHAT PAYMENTS CAN I GET?
Although federally-backed $2,000 payments are just rumors, Americans can still get their hands on free money as certain states host smaller relief programs.
For example, New York is distributing inflation relief checks to residents who have shelled out money on higher sales taxes due to inflation.
These checks are worth up to $400, with the exact amount depending on income and filing status, and are being mailed out automatically to qualifying residents.
Georgia has also offered inflation refund checks to taxpayers, while Pennsylvania, Colorado, and Massachusetts have offered various forms of property tax or income tax credit or rebate.
Another stimulus-like payment is sent out annually via Alaska’s Permanent Fund Dividend, which is distributing $1,702 checks to qualifying residents this year.
Many states also host guaranteed income programs aimed at providing relief to cash-strapped families.
How does Guaranteed Income work?
Guaranteed Income and Universal Basic Income programs have taken off in popularity recently.
After the Biden administration’s American Rescue Plan of 2021 sent stimulus money to local governments, dozens began testing guaranteed income (GI) systems.
The specifics vary, but GI typically involves payouts to people with low incomes. Unlike traditional welfare, there are no job requirements, drug tests, or other strings attached.
Some have pushed for a Universal Basic Income (UBI), which would go to everyone regardless of how much money they make at work. Alaska has used a similar system since the 1970s.
Proponents say this alleviates poverty while incentivizing work, unlike classic welfare, which cuts benefits from people who begin earning “too much” money to qualify.
Opponents argue such a system is too expensive to function on a large scale and suggest Americans should avoid becoming reliant on government money.
With some cities heralding the success of GI programs, some Republican-led states have moved to ban them. States like Texas and Iowa, for example, have undermined major spending plans by pushing against GI.
For example, 200 low-income families in California with young children are receiving $725 per month under the Families First Economic Support Pilot Program, or FFESP.
Meanwhile, Ohio families experiencing homelessness will receive $1,500 payments and then $500 monthly for 11 months under the Stabilize Families program.
Plus, certain residents in Maryland are being compensated $1,000 monthly for a year under a new guaranteed basic income pilot program aimed at lifting families out of poverty.
The $2,000 stimulus checks have not been confirmed by official sources such as the IRS or Treasury Department[/caption]
