Stimulus 2025: Everything the IRS Wants You To Know

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The current state of the economy seems anything but stable, not to mention where your taxes fit in. Whether you’re hoping that a DOGE dividend check will soon be in the mail or you want to know what other stimulus checks or refund programs you qualify for, GOBankingRates has you covered.

Generally speaking, nearly a million American taxpayers were designated this tax-filing season to receive unclaimed rebate checks that date back to the pandemic. However, no widespread stimulus checks other than those are pending for 2025. However, it’s important to note that Elon Musk seems to have the support of President Trump when it comes to pushing forward the potential DOGE stimulus check, but that is still uncertain. 

Here’s everything the IRS wants you to know about getting any potential stimulus money in 2025.

https://www.irs.gov/coronavirus-tax-relief-and-economic-impact-payments

Economic Impact Payments

The IRS released information about some economic impact payments coming in 2025 that could affect your tax return. Though most of these payments have been paid out, you may be able to get a Recovery Rebate Credit if you file by April 15, 2025. Here are a few key takeaways for those eligible:

• Income tax filers with adjusted gross income up to $75,000 for individuals and up to $150,000 for married couples filing jointly will receive the full payment. For filers with income above those amounts, the payment amount is reduced by $5 for each $100 above the $75,000 to $150,000 thresholds. 
• Single filers with income exceeding $99,000 and $198,000 for joint filers with no children are not eligible. 
• Social Security recipients and railroad retirees who are otherwise not required to file a tax return are also eligible and will not be required to file a return. 
• Eligible taxpayers who filed tax returns for either 2019 or 2018 will automatically receive an economic impact payment.
• The amount will be up to $1,200 for individuals or $2,400 for married couples filing jointly, and there is also up to $500 for each qualifying child.

Up Next: Robert Kiyosaki: 5 Things Boomers Must Do Before the Stock Market Crashes

What Is the DOGE Stimulus Check?

At this time, the proposed DOGE Dividend stimulus check remains uncertain, as its status will involve more policy discussions and legislative action. James Fishback, CEO of the investment firm Azoria, first put forth the idea of distributing federal savings from the Department of Government Efficiency (DOGE) to taxpayers. If the DOGE Dividend does get approved, here is what you can expect.

Though his proposal seemingly has the support of the president, many economists argue its potential economic effects could include inflation and national debt concerns. This is due to the original proposal, which wanted to allocate a portion of the estimated $2 trillion in federal spending cuts identified by DOGE to be returned to taxpayers in the form of a $5,000 check per household, with the remaining savings to be used to pay down the national debt.

Fishback doesn’t agree with the critics and feels his proposal would focus on net taxpayers and mitigate inflation risks. He told NBC, “A lot of low-income households essentially saw transfer payments of 25 to 30 percent of their annual … income, they have a lower propensity to spend and a higher propensity to save a transfer payment like the DOGE dividend.”

Of course, Musk has also emphasized DOGE’s role of balancing the budget.

“We need to balance the budget as first priority,” Musk posted on X to defend against claims that the DOGE dividend could result in the government using the DOGE savings as a literal piggy bank. Whether or not this form of stimulus check will go through, however, remains to be seen.

Child Tax Credit Scaled Back, but Could See Revisions

The latest version of the federal child tax credit (CTC) has been scaled back from the version included in the American Rescue Plan Act of 2021, and some senators would like to see further changes. Even so, the expanded credit under the Tax Relief for American Families and Workers Act does hold several advantages for families that qualify.

Here are some of the changes, according to the House.gov website:

• Under current law, the maximum refundable CTC for a taxpayer is computed by multiplying that taxpayer’s earned income (over $2,500) by 15%.
• The new provisions modify the calculation by having taxpayers first multiply their earned income (over $2,500) by 15% and then multiply that amount by the number of qualifying children. This policy would be effective for tax years 2024 and 2025.
• Currently, the maximum refundable CTC is limited to $2,000 in tax year 2025.
• For tax years 2024 and 2025, taxpayers can use their earned income from the prior taxable year in calculating their maximum CTC if the taxpayer’s earned income in the current taxable year was less than the taxpayer’s earned income in the prior taxable year.

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