No, the IRS Isn’t Planning to Issue an $8,700 Stimulus Check. Here’s What You Need to Know
Written on: June 12, 2024
Within the past couple of days, rumors surfaced online about the IRS issuing an $8,700 stimulus check to Americans. The claim quickly gained traction, appearing on Google’s trending searches. But is there any truth to these rumors? Let’s explore the facts and implications of this supposed stimulus payment.
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The Facts In Brief
- The claim: The IRS is issuing $8,700 stimulus checks to qualifying Americans in 2024
- The reality: This claim is false. There are no credible news reports about any new stimulus checks from the IRS in 2024
- The source of the rumor: It's unclear where the rumor originated, but similar false claims have been spread through scammy paid ads on social media and other websites
The Situation: Past & Present
During the COVID-19 pandemic, the US government issued three rounds of Economic Impact Payments (stimulus checks) in 2020 and 2021 to provide financial relief. These payments were $1,200, $600, and $1,400, respectively. The aim was to stimulate the economy and help Americans cope with the economic fallout of the pandemic.
However, as of now, there are no plans for additional federal stimulus checks. If they were planning on distributing such checks, you would expect your first payment to arrive on June 15 of this year, and there has been no indication from the IRS that this is the case. That said, the IRS continues to manage tax credits like the Child Tax Credit and the Earned Income Tax Credit, but these are not the same as direct stimulus payments. Claims about a new $8,700 stimulus check are unfounded and seem primarily spread by dubious sources looking to generate web traffic.
What Can We Take Away From This?
The spread of false information about stimulus checks can lead to confusion and false hope, especially for individuals in financial distress. It’s crucial to rely on verified sources to avoid falling victim to scams. Genuine financial aid programs, such as debt relief options and tax credits, are available through official channels and can provide substantial help without the risk of misinformation.
Learning More To Protect Yourself
To protect yourself from scams and misinformation, be critical of the information you see online, especially about financial matters. Rely on trusted news sources and government websites, such as the official IRS website and USA.gov, for accurate information about governmental programs and benefits.
Always be cautious of unsolicited messages promising large sums of money, and always verify any unexpected financial news through credible channels. Staying informed through reliable channels ensures you can access the help you need without falling victim to scams.