Between 2020 and 2021, the Internal Revenue Service (IRS) managed the distribution of three distinct Economic Impact Payments. As a result, millions of American taxpayers were frequently looking for recent information regarding payment checks.
However, some websites disseminate misleading information regarding payment benefits to attract more traffic.
Online rumors have been circulating every few months claiming that a fourth payment, or some variation on it, is about to be sent.
Rumors Regarding Stimulus Checks Coming From IRS Or California
According to claims from questionable sources, the state of California is expected to send $3,500 or $12,000 instead.
According to other sources, Social Security recipients are receiving a stimulus check from the IRS worth $2,300.
Are There Going To Be Stimulus Checks?
In 2024, neither the IRS nor the California Franchise Tax Board will be sending stimulus cheques. As stated on its website, “The IRS is no longer issuing third Economic Impact Payments.”
With the third check in 2021, the federal Economic Impact Payments came to an end. Only for the tax year in which they were issued, taxpayers who never got them could still claim them as a recovery rebate credit.
Regarding California, two Golden State Stimulus payments were made by the state a few years ago, and a representative confirmed to Fast Company that there are currently no plans to provide any more.
In 2022 and the beginning of 2023, it also issued a Middle-Class Tax Refund, but that was a one-time payment in the form of a debit card.
Any reports claiming California or the Federal government are giving out fresh stimulus cheques to people in large quantities are just wrong.
What’s Actually Happening?
Qualified taxpayers may be able to claim a refund from the IRS through the Earned Income Tax Credit or the Child Tax Credit. Similarly, California provides its own state-level tax credits.
However, taxation credits and economic stimulus checks are two different things entirely. The former are direct payments from the government to boost the economy. While economic stimulus checks were for the Americans affected by COVID-19, they are now terminated.