IRS $8700 Stimulus Check IRS Gov

12/06/2024 Freddy USA Comments Off on IRS $8700 Stimulus Check IRS Gov
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IRS $8700 Stimulus Check IRS Gov

Let me provide some information about the rumored IRS $8700 stimulus check.

Stimulus checks are designed to boost economic activity during challenging times. In March 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) provided Americans with a one-time direct cash payment of $1200, plus $500 per child.

Now, there’s talk of an apparent IRS $8700 stimulus check related to an expanded Child Tax Credit. Here are the key points:

Expanded Child Tax Credit:

President Joe Biden reportedly approved this credit. However, not every American is eligible for the full $8700. Instead, struggling families may receive monthly payments of $350 per child (up to $8700) over six months, starting from June 15th.

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Eligibility Criteria:

  • Households earning under $75,000 annually (single filers) or up to $150,000 (married couples) qualify based on 2022 tax returns.
  • Children must have a valid Social Security Number, appear on the family’s most recent tax return, and be legal US citizens or legal foreigners.

Payment Details:

  • Payments should be issued via direct deposit each month from June to December.
  • However, nothing about the IRS $8700 stimulus check appears on their official website, so it’s essential to stay informed.

Remember to verify details through official channels, and keep an eye out for any updates! 🌟

Also Read : Link Intime IPO Allotment Status Check

Is there a way to track stimulus payments online?

To track your stimulus payments, follow these steps:

  1. Check Your Online Account:

    • Securely access your individual IRS account online.
    • View the total of your first, second, and third Economic Impact Payment amounts under the “Economic Impact Payment Information” section on the Tax Records page.
    • For married filing joint individuals, each spouse should log into their own online account or review their own letter for their half of the total payment.

  2. Review IRS Notices:

    • The IRS mailed notices to the address they have on file:
      • Notice 1444: Shows the first Economic Impact Payment sent for tax year 2020.
      • Notice 1444-B: Shows the second Economic Impact Payment sent for tax year 2020.
      • Notice 1444-C: Shows the third Economic Impact Payment sent for tax year 2021.
      • Letter 6475: Sent through March 2022, confirming the total amount of the third Economic Impact Payment and any plus-up payments received for tax year 2021.

Remember, the Get My Payment application is no longer available, but you can still claim a missing payment and view your payment history