In the wake of the COVID-19 pandemic, three rounds of Economic Impact Payments—widely popularized as stimulus checks—were issued by the U.S. government to help citizens economically.
Since the third stimulus check was issued, and having seen soaring inflation, along with other economic headwinds, speculation has abounded about the possibility of a fourth round of stimulus checks, possibly targeting at least low-income families and individuals. However there have been no firm moves by the Biden administration to make any payments, and the status of a fourth stimulus check remains vague as of the moment.
Rumors of $1400 Stimulus Check in August 2024
There have been various reports from sources regarding the possibility of stimulus checks worth $1400 to be given out in August 2024. According to them, this payment would be an extended stimulus program in a big way towards citizens who are struggling to afford life with high prices and inflation.
The important thing to note is that all of these reports cite unverified information and rumors. The government has not made any official statement yet about a fourth round of the stimulus checks or, specifically, the $1,400 payment this August 2024.
Qualifications to receive Stimulus Checks if enacted
Should a fourth stimulus check actually pass, requirements would likely mirror those of earlier rounds. That could include:
- Residents who are U.S. citizens with permanent citizenship status and a valid Social Security number
- Income thresholds might also be a factor. Single filers earning less than $75,000 a year and married couples filing jointly earning less than $150,000 a year
- Requirements about tax filing, such as having filed pending taxes prior to the deadline; specific considerations, including those that welcomed a baby in 2021 and those who owed no federal taxes.
Keep in mind that the eligibility criteria stated above were based on past stimulus check programs and might change in case a new round of payments is approved.
Current status and expectations
As of now, the U.S. government has yet to make an official announcement regarding a fourth round of stimulus checks. The last time federal stimulus checks were issued was in 2021 under the American Rescue Plan Act, and since then, nothing has been forthcoming in terms of signals for new stimulus payment rounds.
The government of the United States has made it crystal clear that for now, there are no plans set up for a fourth round of stimulus checks in the year 2024. Attention was instead shifted to other economic boost measures, as in the case of Social Security beneficiary payments, tax refunds, and the continuation of the Child Tax Credit.
Even though many Americans will find this proposal of stimulus checks most alluring, it is very important to refer to the official government sources for information on the same, such as the website of the IRS. This would really help people to get real and timely information against baseless rumors, which are most likely to turn into scams or some other misleading information that might turn harmful.
Although it was touted that a fourth round of stimulus checks might come in August 2024—complete with a $1,400 check—it is yet to be officially announced by the U.S. government. It is important to stay current through official sources and explore alternative avenues of financial support in this regard for citizens looking out for their economic situation.