$2K Stimulus Checks: Are They Real and Could You Get One?

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Rumors started coming in that a $2,000 economic relief package would arrive sometime during October of 2024. Discussions on social media and some websites suggested a possible $2,000 stimulus check for seniors, while other unverified sources claimed that eligible Americans would receive the money in their bank accounts.

While economic relief during these challenging economic times would be a favorable outcome, it’s essential to be realistic about expectations when it comes to the Internal Revenue Service (IRS). So, if you are holding out hope for a big stimulus payment amount in 2025, you may be setting yourself up for disappointment. 

Quick Take: Are $2K Stimulus Checks Real?

Unfortunately, no official confirmation regarding the specific $2,000 stimulus checks has been received from a legitimate source yet. This means you shouldn’t budget for a $2,000 stimulus check that most likely won’t be coming.  

However, the IRS does have some information about how economic impact payments, though largely already paid out, could affect your federal tax return if you file for a Recovery Rebate Credit by April 15, 2025. Here are a few key takeaways if this affects you:

• Income tax filers with adjusted gross income up to $75,000 for individuals and up to $150,000 for married couples filing joint returns 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/$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.
• There is also up to $500 for each qualifying child.

How Did the Rumors Start?

It’s difficult to pinpoint where these rumors originated as all of the information appears on unverified websites. An article on Marca last year noted that there was no official confirmation from the IRS or any other federal government agency. Still, the piece speculated that a possible relief package could address economic challenges. 

With soaring inflation figures and increased living expenses, the piece pointed out how many Americans were hopeful of some sort of financial support to manage the increased costs of daily expenses. 

During previous relief efforts, the primary method of distributing the funds from the IRS was direct deposit, so some people started getting excited about receiving a stimulus distribution in October. However, these rumors are unsubstantiated and no clear signs indicate any kind of economic relief is on the way.

Final Take To GO: How To Protect Yourself From Rumors

The bottom line is that while it’s tempting to get excited when rumors swirl about receiving an economic relief package or recovery rebate credit, you don’t want to get caught up in a scheme. You also don’t want to get your hopes up about something that likely won’t happen.

Here’s how you can protect yourself from rumors:

• Avoid unofficial sources. Rumors often start on social media and websites, with optimistic readers sharing the information. You’ll want to review the actual source of the information to determine if it’s credible.
• Seek out official sources. If you want to find any new information about stimulus programs or updates to Social Security payments, you’ll want to visit the official websites of the IRS or the SSA.
• Be skeptical of anyone asking you for confidential information. Please be extremely cautious if you receive any communication about being eligible for a stimulus check. You don’t want to get caught up in a scam where they request your confidential financial information because you thought you were receiving financial assistance. 

Martin Dasko contributed to the reporting for this article.

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