The Internal Revenue Service announced a new stimulus check, $200 and $1,400, to help citizens in the month of July 2024. All these payments are basically to help people and families who have been suffering economically and—worse still—because of the impetus of the COVID-19 pandemic. Here is what you need to know about the payouts.
Payment Summary
Starting in July 2024, the IRS will distribute payments of $200 and $1400 to eligible citizens. This financial assistance is part of the government’s ongoing efforts to support Americans facing economic hardships. Specifically, new parents who welcomed a child after 2021 are specifically eligible for these payments if they have regularly completed their tax returns through July 2024.
What are the new $200 and $1400 stimulus checks about?
The main purpose of these new $200 and $1400 stimulus checks is to provide critical economic support to those who are most in need. This assistance is especially important for new parents who have filed their taxes on time. Many people consider these payments necessary to cover basic expenses and bills.
Eligibility Criteria
The $200 and $1400 stimulus payments for these amounts require people to meet stipulated income levels:
- Singles making under $75,000 annually.
- Head of household with annual income of less than $112,500.
- Married couples filing jointly if they have an income of below 150,000 in one year.
Those individuals who slightly earn above the above limits will also receive partial payments, but for those claiming dependants, including college students and seniors, it will go to $1400 for every dependent.
| Category | Details |
|---|---|
| Payment Amounts | $200 and $1400 |
| Eligibility | – Singles earning less than $75,000 annually<br>- Heads of households earning less than $112,500 annually<br>- Married couples filing jointly earning less than $150,000 annually<br>- New parents who had a child since 2021 and completed tax returns by July 2024 |
| Partial Payments | Individuals slightly above the income thresholds may receive partial payments (phase-out starts at $80,000 for singles) |
| Dependent Payments | $1400 for each dependent (e.g., college students, seniors) |
| Application Steps | 1. Visit www.irs.gov<br>2. Click on “Get My Payment”<br>3. Create a profile and fill out the form<br>4. Attach necessary documents and submit the form<br>5. Wait for IRS confirmation |
| Payment Dates | – Saturday, July 13, 2024<br>- Monday, July 15, 2024<br>- Tuesday, August 13, 2024<br>- Friday, September 15, 2024<br>- Tuesday, October 15, 2024<br>- Friday, November 15, 2024<br>- Sunday, December 15, 2024 |
| Checking Status | – Regularly check your bank account for deposits<br>- Visit the IRS website for updates |
| Verification | Verify payment dates and information through official IRS announcements to avoid misinformation |
| Contact Information | Visit www.irs.gov or contact the IRS directly for assistance with payment issues |
How to Apply
Applying for stimulus payments takes a few simple steps:
- Visit the IRS website: Visit www.irs.gov to access the official portal.
- Get My Payment: Follow the instructions provided and click on “Get My Payment” option.
- Complete the Form: After creating your profile, fill in the required information in the online form and attach any required documents.
- Wait for confirmation: Submit the form and wait for contact from the IRS about your eligibility and payment status.
Schedule For Payment
The IRS has specified payment dates for the $200 and $1400 stimulus checks. Here are the key dates:
- Saturday, July 13, 2024: $200 and $1400
- Monday, July 15, 2024: $200 and $1400
- Tuesday, August 13, 2024: $200 and $1400
- Friday, September 15, 2024: $200 and $1400
- Tuesday, October 15, 2024: $200 and $1400
- Friday, November 15, 2024: $200 and $1400
- Sunday, December 15, 2024: $200 and $1400
This means that you should look forward to these dates for payment. The IRS has clearly set these dates so that people know when their payments are due and can plan accordingly.
Checking Payment Status
Check your bank account regularly to keep track of your payments. Also, check the IRS website for detailed information on up-to-date information.
Fact Check
Incentives of $200 and $1,400 have been mentioned. Some sources say that these payments will be made in July 2024, but such claims need to be confirmed through official channels. Currently, the IRS website has not confirmed these specific payment dates. Therefore, it is important to rely on official IRS announcements rather than estimated information.
This means to keep track of your payment status, follow only official sources and avoid rumours.
FAQ’s
How much will dependents receive?
Dependents such as college students, and seniors get $1400 each.
Who is eligible for these payments?
Singles whose income is less than $75,000 per annum.
Households headed by individuals making less than $112,500 annually.
Married filing jointly with an annual income of less than $150,000.
How do I apply for the payments?
Visit www.irs.gov to access the official portal.
Follow the instructions which are provided and click on “Get My Payment” option.
After creating your profile, fill in the required information in the online form and attach any required documents.
Submit the form and wait for contact from the IRS about your eligibility and payment status.
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