There is not a single shred of doubt that 2022 has been difficult for many American families in the country. The country was just getting out from the net of COVID, and hyperinflation was eating up the market. Therefore, even with the Job market opening again, the USA household faced a lot of adversities in making the ends meet at the month end.
The national reserve increased their interest rates slowly to cope up with the constantly growing rate of inflation, and the Russian oil imports causing a costs of living crisis, it become harder for the families to cope with all these adversities. Now even the stimulus check announced and hosted by a few states are not helping.
However, as 2023 is approaching soon as well, the IRA has recently stated that they are not going to send out free money in stimulus check anymore for the USA taxpayers. That means the USA taxpayers over the country should buckle up to go through a tough financial year.
What The IRS Said About Stimulus Check Payments?
As people are wondering about the next possible payment of stimulus check payments by the Internal Revenue Service in the upcoming year, the organization in the meantime has published a bulletin recalling the impact of the absence of another free stimulus check payment will have in the cash payments of this fiscal year.
The bulletin even though not completely denying the chances of tax refunds said that those will be smaller than the ones in the previous years.
According to the IRS advisory, residents shouldn’t rely on tax refunds to help them pay for essential necessities like groceries.
After COVID-19, households won’t have access to the extra benefits of welfare programs like the parent/Child Tax Credit that were available in 2021, and the lack of stimulus check payments will continue to be an issue.