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Friday, December 3, 2021

Stimulus Check To Be Returned?

Stimulus Checks have been one of the best things that happened to the Americans. The administration of Joe Biden issues the checks when America was plunged into darkness. Financial assistance acted like a boon for many households. 

After the shutdown was inflicted, most of the citizens lost their jobs. This happened because the greater portion of Americans had jobs that required them to function in the field. As factories and offices were closed, the people were sacked. Although some people were working from home, the remuneration they got did not satisfy them. 

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This created a huge instability in the economy. People were falling behind their rent. A large number of debts were rising. Such a situation was appropriately aided by the stimulus money. Most of the families paid their debts with the money. The stimulus check enabled the citizens to concentrate more on productivity rather than worrying about financial stress.

 However, recent reports have stated that the IRS is demanding back the stimulus money from the citizens. Let us learn more about the incident below. 

Stimulus Check Money Demanded Back By IRS

In a recent turn of events, the IRS has reportedly asked for the stimulus money back. A number of citizens have reported having received letters from the IRS. The letters asked the said citizens to return the money received earlier as checks. 

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The reasons for such letters are very much simple. While claiming for the stimulus payments, there were eligibility criteria from the government. The criteria stated that an individual must earn below $75000 to qualify. In the case of a couple, the number should be below $150000. 

However, a lot of citizens earning well above the qualifying limit also filed for the benefit. They are being tracked down and asked to return the Stimulus Check. The IRS said eligible individuals need not worry about returning their money. 

 

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