There is currently no confirmed date for a fourth federal stimulus check in the United States for 2024. While some rumours and reports circulated regarding in First or second quarter 2024, scroll down to know more.
4th Stimulus Checks 2024 Date
No federal law currently authorises a fourth stimulus payment. The last federal stimulus checks were issued under the American Rescue Plan Act of 2021.
The economic situation has changed since the previous stimulus checks. With improving unemployment rates and economic growth, the need for broad federal stimulus has lessened.
Some states are issuing their own stimulus payments. California, Hawaii, Illinois, Maine, Massachusetts, New Jersey, New Mexico, and Rhode Island have announced plans for state-level stimulus programs in 2024.
IRS Fourth Stimulus Checks 2024 Eligibility
While there’s currently no confirmed fourth stimulus check at the federal level, it’s still helpful to be familiar with the previous eligibility requirements. These might be used as a reference point if a new program is implemented:
- U.S. nationals or foreign residents with a current Social Security number
- Filed a tax return for the most recent year (unless not required to file)
- Met the income limits:
- Individuals: Adjusted Gross Income (AGI) below $75,000
- Heads of Household: AGI below $112,500
- Married couples filing jointly: AGI below $150,000
- Dependents: You could receive an additional payment for each dependent child under 17 years old who qualifies for the Child Tax Credit.
- Phased out payments: For individuals above the income limits, the amount of the stimulus check gradually reduced until they became ineligible at a certain income threshold.
- Non-filers: Some non-filers could claim the stimulus payment by submitting a simplified tax return.
Diminished prospects for IRS Stimulus Checks in 2024
As 2024 unfolds, the question of a potential fourth round of federal stimulus checks looms large. However, analysing the current economic and political landscape reveals several factors that significantly diminish the likelihood of such a distribution.
Rebounding Economy: A Shift in Landscape
- The primary factor dampening the prospects for further stimulus lies in the improved economic conditions compared to the pandemic’s peak.
- Unemployment rates have demonstrably declined, with many sectors experiencing notable rebounds.l
- Beyond Immediate Crisis:With the immediate economic crisis receding, policymakers’ focus has naturally shifted towards other priorities.
- Controlling inflation and addressing the national debt have become pressing concerns, prompting a cautious approach to additional stimulus spending.
- Election Year Considerations: The approaching 2024 presidential election adds another layer of complexity to the equation.
- Fiscal responsibility and concerns about inflation are likely to take centre stage in political discourse, further diminishing the appeal of large-scale stimulus programs.
- A Nuanced Approach: The current economic climate and policy priorities have led to a focus on targeted assistance programs rather than broad-based stimulus.
Federal 4th Stimulus Check 2024 Status
While the possibility of a fourth round of stimulus checks in 2024 remains a topic of speculation, it’s important to remember the status of your past payments, particularly the $1400 check issued under the American Rescue Plan Act of 2021.
Even though new payments are no longer being distributed, accessing information about your past payment is still quite accessible. Here are two ways to do so:
IRS Online Account:
- Head to the IRS website and log in using your Social Security number, date of birth, and address.
- Once logged in, navigate to the “Tax Records” tab and locate the “Economic Impact Payment Information” section.
- This section will clearly display the total amount of your $1400 stimulus check, along with any other Economic Impact Payments you might have received.
IRS Notices 1444 and 1444-B:
- If you received your $1400 check by mail, the IRS sent you paper notices (1444 and 1444-B) detailing the amount of your first and second Economic Impact Payments.
- These notices serve as official proof of payment and can be used to track the status of your mailed check if needed.
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