Stimulus Check: New Payments Announced!

Tax Season Stimulus Check
Stimulus Check

If you are yet to receive a check, the IRS can still send it very soon. The IRS can issue further stimulus checks this month, that is, January 2023. The first stimulus check round was worth $1,200 and was given to individuals whose adjusted gross income was fewer than $75,000. The second stimulus check round was worth $600, with an additional $600 for every dependent child. Stimulus payments also come in the form of tax credits. This year, the deadline to claim your stimulus payment as part of your taxes has been extended to May 17, 2023.

The IRS has also been working on the whole procedure regarding issuing stimulus payments to several million taxpayers. Their mission is to complete sending every stimulus check within January 2023, however, it remains uncertain as to whether they’re going to be able to pull it off before the deadline. According to an official statement from the IRS Office of Public Relations:

“The good news is that we’re making progress! We have a huge number of people who need their refunds and are still owed money from last year’s stimulus payments—but please bear with us as we try to get through them all.”

Stimulus Check Unlikely Despite Strong Push

This may not be the most encouraging information for the people who are expectant of receiving their stimulus checks in the coming month (or, perhaps earlier), there is no need to worry or panic about it right now. As per the IRS’ indications, they want to get every individual their tax refund by the end of 2023, be it through direct deposit or check. As such, if you fall into the category of people who received their tax return as late as May 2022 since their application was lost due to processing channels, then no need to fret, the money should come soon enough.