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Saturday, February 4, 2023

New Stimulus Check Unlikely In 2023

A representative for the IRS informed VERIFY that no law allowing for a fourth stimulus check in 2023 had been approved. There is no mention of a fourth payment on the IRS or U.S. Department of Treasury websites, which provide instructions on how individuals may get the three prior stimulus payments if they haven’t already.

Congress would need to approve legislation approving the payment and President Biden would need to sign it into law before Americans could get another stimulus cheque. But it hasn’t taken place.

IRS Will Not Send Another Stimulus Check In 2023

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At this point, Mark Steber, chief tax information officer at Jackson Hewitt, told VERIFY that he hasn’t heard of any plans for extra government stimulus checks in 2023. The three prior stimulus payments were included in legislation that was approved by Congress and signed by the president at the time. The CARES Act, which was passed in March 2020, included the first cheque for $1,200. A spending plan approved in December 2020 had a second check for $600. The American Rescue Plan, which was approved in March 2021, featured the third check for $1,400.

Economic Impact Payments and stimulus checks are not included in the Inflation Reduction Act, which Congress passed in August 2022, or the federal government’s 2023 omnibus budget package. One can still claim if they were eligible for one of the initial three stimulus payments but have yet to receive any of them. According to an IRS official, you have three years to file a claim for your stimulus money.

You must submit a tax return for either 2020 or 2021, or both, and claim the Recovery Rebate Credit to be eligible to receive a reimbursement for a missed stimulus check.

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