Stimulus Verification Hoax Claims $ 2,500 Payments On The Way – Don’t Believe It
Despite the fact that no movement has been made towards additional stimulus checks in recent months, social media hoaxes claiming otherwise abound. To be completely clear, if you see any posts online about an outstanding $ 2,500 payout, or claim that a fourth stimulus check is coming, they are bogus. Don’t be fooled.
The reality is that neither the Biden administration nor congressional lawmakers have publicly stated that there has been an active and serious review of more direct payments to Americans. While there is those who ask for a fourth stimulus check (and beyond) it is unlikely to ever materialize.
Not only does a fourth check not take place, but many states have also refused to hand out additional federal unemployment benefits, which are expected to expire in September anyway.
The IRS has already distributed nearly all of the stimulus funds allocated by Biden’s US bailout in March. This legislation provided for the third direct payment (and so far the last) totaling up to $ 1,400 for eligible taxpayers.
Relief still available for some
What remains now is the expanded child tax credit – is also part of the US bailout – which allows advance monthly cash payments of up to $ 300 for each child to families with children 17 and under.
Eligible families will receive up to $ 3,600 ($ 300 per month in advance) per child under 6 and up to $ 3,000 ($ 250 per month in advance) per child 6 to 17 years, including those who will turn 17 before the end of this year. .
The expanded credit gradually decreases by $ 50 for every $ 1,000 of income for single taxpayers earning over $ 75,000 and married tax filers earning over $ 150,000.
Families that earn more are still eligible for the regular child tax credit, which offers up to $ 2,000 per eligible child as a one-time credit at the end of the tax year, and does not include children who will be 17 this year.
The first installments were made last week (July 15). Eligible families have until August 2 to unsubscribe from advance checks (and receive their credit instead at the end of the year) or to update direct deposit information before the August 13 payment.