IRS Reportedly Confirms $1,390 Stimulus Checks For Eligible Americans, Rumors of $2,000 August Payout Debunked — Plans Late Summer Rollout (UPDATED)
Editor's Note: This story has been updated to include a comment from an IRS spokesperson.
Millions of Americans may be eligible for a $1,390 stimulus check by the U.S. Treasury Department and the Internal Revenue Service, as part of a plan aiming to provide financial relief to low and middle-income households.
Officials Dispel $2,000 Rumors, Confirm $1,390 Stimulus
While rumors continued to swirl around a potential $2,000 check in August, the IRS has denied that it has any such payment planned, but has confirmed the legitimacy of $1,390 payout, which it says is on track for low and middle-income Americans, according to a report by India's The Economic Times newspaper.
The eligibility criteria for a $1,390 check follow the same income thresholds as past stimulus programs, such as up to $75,000 in income for individual taxpayers, $150,000 for married couples and $112,500 for heads of households.
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The payment, as always, is tax-free and will not impact benefits from other programs such as Medicaid, SNAP, Social Security, Veterans Affairs, or Railroad Retirement.
This is aimed at helping Americans cover rent, food and medical costs, at a time when living expenses remain elevated for millions.
An IRS spokesperson pointed out to Benzinga that Taxpayers had until April 15, 2025, to claim the Recovery Rebate Credit. They said there was "nothing else since then."The Treasury didn't immediately respond to Benzinga's requests for a comment on this matter. This story will be updated as soon as we receive a response.Trump's DOGE Dividends And Tariff Rebate Plans
Early this year, President Donald Trump proposed a 'DOGE Dividend' tax refund plan, as part of which 20% of the savings achieved by his administration's Department of Government Efficiency will be returned to American citizens.
Critics such as Erica York, Vice President of federal tax policy at the Tax Foundation, however, have warned that such a move would 'reduce the effectiveness of the entire effort.'
A few weeks ago, Trump proposed issuing tariff rebate checks to Americans, funded by the tariff revenue being collected by the government. 'We're thinking about a little rebate,' he said, while also emphasizing the need to pay down the national debt.
Following this, Sen. Josh Hawley (R-Mo.) introduced a bill based on the same, named the 'American Worker Rebate Act.' The Bill proposes sending tariff rebate checks worth at least $600 for every adult and child, with larger rebates if tariff revenues surpass projections.
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This article IRS Reportedly Confirms $1,390 Stimulus Checks For Eligible Americans, Rumors of $2,000 August Payout Debunked — Plans Late Summer Rollout (UPDATED) originally appeared on Benzinga.com
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