Americans go crazy over viral social media posts claiming stimulus checks are coming – here’s what the IRS said

Following a flurry of social media posts that went viral, many Americans are asking if additional stimulus cheques are coming.

The IRS addressed the issue and corrected the record.

There are a number of social media posts that suggest taxpayers in a few states may receive an incentive of $2,000 or more over the holiday season.

Claims of this nature have increased in frequency as Donald Trump gets ready to take office on January 20.

Trump was forced to approve two bills that provided stimulus cheques to qualified households in 2020 after the COVID-19 outbreak caused millions of Americans to lose their employment.

Millions of Americans received billions of dollars through the COVID-19 Relief Bill in December 2020 and the CARES Act in March 2020.

In March 2021, the Biden administration also released a third wave of stimulus checks via the American Rescue Plan Act.

Some Americans now hope that when Trump enters office in January, they will receive additional stimulus cheques.

The IRS did clarify, though, that no additional stimulus payments are planned.

The first, second, and third Economic Impact Payments have all been issued by the IRS, according to the IRS website.

“The Get My Payment app is no longer available for checking the status of your payments. The majority of those who qualified have already gotten their Economic Impact Payments.

Although the majority of eligible Americans have already gotten their stimulus, those who have not may still attempt to do so on a subsequent tax return.

The deadline for filing and claiming the 2021 credit is April 15, 2025, however the time for filing a return and claiming the 2020 credits has already passed.

REAL TALK

Americans were cautioned by the IRS not to rely solely on social media for news and financial advice.

IRS Commissioner Danny Werfel stated in a statement that scammers and others can easily use social media to try to persuade people to follow some very foolish notions, such as ways to miraculously enhance your tax refund.

There are numerous sources of reliable tax information, such as reputable tax experts and @irsnews on social media. However, while looking for tax guidance on social media, users should be cautious about who they follow.

“People shouldn’t rely on fictitious methods on social media to alter their tax return and increase their refund, unlike inventive cosmetic suggestions or tricks to fix a leaking kitchen sink.

Economists discussed the rumored stimulus payments as well.

The economy isn’t nearly as terrible as it was in the early 2020s, despite the fact that many Americans believe it is struggling.

Jacob Channel, a senior economist at LendingTree, told CBS that stimulus checks usually only occur when the economy is in extremely poor health and consumers need a boost to start spending money again. “That’s not really the case in the present.”

“A president can’t unilaterally issue stimulus checks, and the ones sent out during [Trump’s] last administration were largely the result of a push from Democrats in the House and Senate,” Channel stated.

“Though Trump ultimately did sign the bill that sent stimulus checks to Americans, he isn’t solely responsible for them.”

Americans can still receive an additional $1,400 from the IRS even if there are currently no plans for any stimulus payouts.

Additionally, a $125 million pot still allows Americans to receive one-time payments of up to $1,050.