In early September 2023, a rumor widely circulated through social media, especially Facebook suggested that homeowners could get a stimulus check ranging up to $185,000. The post further claimed that the checks were being issued by the Biden administration in what was referred to as an ‘emergency housing stimulus’. The only conditions specified were that one should be a homeowner, with a credit score of above 600.
Most people, looking for financial assistance, wished it was the case. Unfortunately, it was rather false, leaving many who believed in it dismayed.
Details of the Fake $185,000 Stimulus Check
Homeowners were said to receive stimulus checks of anywhere between $50,000 and $185,000 as per the speculation. Such information was made available to social media users who engaged with a shocking post on Facebook which led them to a non-functioning site. The assertion was quite attractive to the audience, especially taking into account the prevailing economic turbulence in the country, hence it caught on rather fast.
The IRS spokesperson Alejandra Castro spoke to USA Today and refuted the allegations. She also noted that there was no such program that involved the IRS, and thus, the rumor was unfounded.
No Government Program for $185,000 Stimulus
The Facebook post concerning the $185,000 stimulus checks was unrelated to any genuine governmental undertaking in the United States. The post’s hyperlink offered no authentic information regarding the topic, and the whole assertion was proven to be unwarranted. There is not a shred of evidence to support the notion that such a scheme has ever or will ever take place.
Notwithstanding the falsehood of the post, its timing, which was when several people were financially inclined to believe in the post, contributed to its believability. Bearing this in mind, it is advisable to be on the high alert when engaging with informal essays posted on social media.
What Really Happened
The claim of a $185,000 stimulus check was nothing like any real legislative action taken by the Biden administration. The viral Facebook post gained a lot of attention, but it was fake and had no connection to any official government agency.
This false claim is just one example of how quickly misinformation can spread online, leading to confusion and false hopes for those in need of financial help. While the rumor sparked discussions, it was, in the end, just a baseless piece of misinformation.
Real Financial Relief in Some States
While the $185,000 stimulus payment may not be a reality, certain states are providing some actual financial relief to their residents. States such as West Virginia, Alaska, California, and New Mexico, for instance, have instituted programs to assist individuals with financial difficulties. These kinds of programs are designed to alleviate burdens and help promote consumption instead.
As a case in point, the state of Alaska provides a voucher worth $3,200, once in a lifetime, under its Permanent Fund Dividend policy. Nonetheless, in order to be eligible, residents will need to prove they have been domiciled in the state for not less than one year and that they have no criminal history. Such programs are certainly not the first in line to come up or introduce during difficult economic times.
IRS Warns Against Scams
The IRS has on several occasions cautioned the public against scams especially those propagated through social media. In the year 2023, the public was conned to file tax returns with the promise of huge returns even though the returns were fake. The fraudulent activities included false figures of wages and withholdings, and even included non-existing employees.
The Internal Revenue Service warned that if a taxpayer files a false return, the taxpayer may be liable for penalties in excess of five thousand dollars and even face prosecution. The Internal Revenue Service also urges readers in cases where an incorrect return is filed to amend such returns and where necessary, seek help from a tax practitioner so as to avoid risks of penalties.
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