The Internal Revenue Service (IRS) has refuted recent claims circulating on social media about the issuance of new stimulus checks worth $1,390 to millions of Americans. The agency clarified that no new stimulus program has been authorized. These rumors may have originated from previous IRS communications regarding the distribution of $2.4 billion to taxpayers who had not claimed the 2021 Recovery Rebate Credit, which had a filing deadline of April 15.
Reports suggested that such payments were aimed at low- and middle-income households and were expected to be distributed by late summer. However, the IRS stated that new stimulus payments can only be issued with congressional approval, and no legislation has been passed in 2024 authorizing such payments. The last federal relief efforts occurred during the pandemic, with funding tied to the CARES Act and other related acts.
Senator Josh Hawley introduced a bill in July, known as the American Worker Rebate Act, which proposes sending at least $600 per taxpayer using tariff revenues. However, this proposal remains in committee and has not yet advanced in Congress.
Additionally, the IRS has issued warnings regarding scams related to tax refunds and credits, advising individuals to be cautious of misleading claims and impersonators.
- Why it matters:
- Readers should be aware of potential tax scams and verify claims through official sources before taking any actions.
- Businesses should stay informed about government relief programs as they could impact consumer spending and economic conditions.
- The latest:
- The IRS has confirmed no new relief programs are in place, and the potential bill by Senator Hawley is still pending in committee.
Source: https://www.hindustantimes.com/world-news/us-news/irs-approved-1390-stimulus-checks-this-month-heres-the-truth-behind-viral-claims-101755307501297.html
Source: https://www.hindustantimes.com/world-news/us-news/irs-approved-1390-stimulus-checks-this-month-heres-the-truth-behind-viral-claims-101755307501297.html