IRS Announces Stimulus Payments for July 2024
In July 2024, the Internal Revenue Service (IRS) announced it would distribute $200 and $1400 payments to eligible American residents.
These stimulus checks aim to help individuals and families facing financial challenges, especially those affected by the COVID-19 pandemic.
Here’s everything you need to know about these payments.
Payments
Starting in July 2024, the IRS will distribute $200 and $1400 payments to eligible citizens.
This financial aid is part of the government’s efforts to support Americans in need.
New parents who have had a child since 2021 are particularly eligible if they have regularly filed their tax returns by July 2024.
Eligibility
To qualify for the $200 and $1400 stimulus payments, individuals must meet certain income criteria.
Singles earning less than $75,000 annually are eligible.
Heads of households earning less than $112,500 annually qualify for the payments.
Married couples filing jointly earning less than $150,000 annually are also eligible.
Those earning slightly above these thresholds may still receive partial payments.
The phase-out starts at $80,000 for singles.
Individuals who claim dependents, such as college students and seniors, will receive $1,400 for each dependent.
Application
Applying for the stimulus payments involves a few simple steps.
First, visit the IRS website at www.irs.gov to access the official portal.
Next, follow the instructions and click on the “Get My Payment” option.
After creating your profile, fill out the online form with the required information.
Attach any necessary documents to the form.
Submit the form and wait for the IRS to contact you about your eligibility and payment status.
Payment Schedule
The IRS has outlined the payment dates for the $200 and $1400 stimulus checks.
Here are the key dates:
Saturday, 13th July 2024, payments of $200 and $1400 will be distributed.
Monday, 15th July 2024, payments of $200 and $1400 will be distributed.
Tuesday, 13th August 2024, payments of $200 and $1400 will be distributed.
Friday, 15th September 2024, payments of $200 and $1400 will be distributed.
Tuesday, 15th October 2024, payments of $200 and $1400 will be distributed.
Friday, 15th November 2024, payments of $200 and $1400 will be distributed.
Sunday, 15th December 2024, payments of $200 and $1400 will be distributed.
Checking Payment Status
To stay informed about the status of your payments, regularly check your bank account for deposits.
Additionally, visit the IRS website for updates and detailed information.
Fact Check
There have been rumors regarding the $200 and $1400 stimulus payments.
While some sources claim these payments will be made in July 2024, it’s essential to verify such information through official channels.
As of now, the IRS website has not confirmed these specific payment dates.
Therefore, it is crucial to rely on official IRS announcements rather than speculative information.
FAQs
Who is eligible for the $200 and $1400 payments?
Eligible individuals include singles earning less than $75,000 annually, heads of households earning less than $112,500 annually, and married couples filing jointly earning less than $150,000 annually. New parents who have had a child since 2021 and have regularly filed their tax returns by July 2024 are also eligible.
How can I apply for the stimulus payments?
To apply, visit the IRS website at www.irs.gov, click on the “Get My Payment” option, create a profile, fill out the online form with the required information, attach necessary documents, and submit the form.
When will the payments be distributed?
The payments will be distributed on the following dates: 13th July 2024, 15th July 2024, 13th August 2024, 15th September 2024, 15th October 2024, 15th November 2024, and 15th December 2024.
How can I check the status of my payment?
To check the status of your payment, regularly monitor your bank account for deposits and visit the IRS website for updates and detailed information.
Are the payment dates confirmed by the IRS?
As of now, the IRS website has not confirmed the specific payment dates. It is essential to verify any information through official IRS announcements.