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Yahoo
4 days ago
- Business
- Yahoo
Are we getting stimulus checks in June? Update on 2025 Trump stimulus
Stimulus checks have been a huge topic for discussion for Americans over the last few months. The opportunities to claim or file for the first stimulus payment (issued in March and April 2020) or the second stimulus check (issued by Jan. 15, 2021) or the third stimulus check (issued between March and December 2021) have now passed. The deadline to file for the third and last stimulus check was April 15, 2025; it marked a three-year deadline to claim any tax refunds or in this case, the $1,400 Recovery Rebate Credit for 2021. Even if you received a tax extension, you still needed to file your 2021 tax return by the April 15, 2025 deadline to claim that third stimulus check. There are no extensions or appeals available for missed deadlines, and any unclaimed stimulus payments become the property of the U.S. Treasury. While speculation about a fourth stimulus check of $2,000 has surfaced on social media and unverified websites, there has been no official confirmation from Congress or the IRS to support this claim and any such news should be taken with caution as it could be misinformation or attempted fraud. For months, there was a lot of talk about another round of stimulus checks sourced from funds billionaire Elon Musk and the Department of Government Efficiency had freed up through workforce reduction and other cost-saving measures. However, Musk announced last month he's leaving DOGE and will focus on his businesses. The Department of Government Efficiency website cites an estimated $175 billion — approximately $1,087 per individual federal taxpayer — in savings through their cuts and reductions in government spending and proof in their "Wall of Receipts." However, only $70 billion is itemized thus far, raising doubts about accuracy. Investopedia defines a dividend as "the percentage of a company's earnings that is paid to its shareholders as their share of the profits." They add that dividends are generally paid quarterly, with the amount decided by the board of directors based on the company's most recent earnings. As for stimulus checks, they are money sent to taxpayers by the federal government, usually in an attempt to stimulate the economy by providing people with some spending money. The DOGE stimulus checks, or sometimes referred to as "DOGE Dividends," would give taxpayers up to $5,000 back, which would come from the claimed savings that the Department of Government Efficiency accrues on the path to its savings goal of $2 trillion, President Donald Trump said in February. According to USA TODAY, James Fishback, CEO of the investment firm, Azoria, first pitched the "DOGE dividend" concept back in February, saying on X that it would be "a tax refund check sent to every taxpayer, funded exclusively with a portion of the total savings delivered by DOGE." In response to Fishback's idea, which he developed a proposal for, Musk said, "Will check with the President." According to Fishback's proposal, the tax refund checks would be sent out after the expiration of DOGE in July 2026. "American taxpayers deserve a 'DOGE Dividend': 20% of the money that DOGE saves should be sent back to hard-working Americans as a tax refund check. It was their money in the first place," Fishback said in a separate X post. "At $2 trillion in DOGE savings and 78 million tax-paying households, this is a $5,000 refund per household, with the remaining used to pay down the national debt." In February, Trump said he would consider the plan to pay out $5,000 stimulus checks to taxpayers in the form of a 'DOGE dividend' during a summit in Miami. He explained it as using part of the 20% of the savings identified by Musk's Department of Government Efficiency (DOGE) and giving it back to taxpayers As of June 2025, there has been no actual indication that DOGE will be issuing a stimulus check to taxpayers; nor have any stimulus checks from DOGE savings been formally approved by Congress. While stimulus checks might not happen anytime soon, some Floridians can still expect to see their tax return this month. If you filed your federal taxes electronically and included your banking information, then you may expect a direct deposit within 21 days. If you did not include banking information, then you may expect a paper check refund via the mail within 6-8 weeks. Submitting your return is not the same as the IRS accepting your return. Once it is accepted, you will know it has if you see a "Refund Sent" alert when you check your tax return status online, at which point you won't have to wait too long for the funds to show up in your account. Once the IRS approves your refund, it could hit your bank account within days via the direct deposit option. The IRS has an online tool called "Where's My Refund" that allows you to check on the status of your refund. Click here. This article originally appeared on Florida Times-Union: Stimulus checks 2025: Will Floridians see a check coming in June?
USA Today
27-05-2025
- Business
- USA Today
Will we get a stimulus check in 2025? Status update on Trump stimulus checks this year
Will we get a stimulus check in 2025? Status update on Trump stimulus checks this year Show Caption Hide Caption Senate approves $25,000 tax break for tipped workers The Senate has unanimously passed a bill allowing workers who receive tips to deduct up to $25,000 in cash tips from their taxable income. unbranded - Newsworthy Americans are wondering about the possibility of a fourth stimulus check in 2025 or a previous unclaimed stimulus and how they can still get it? Here's what to know about the second, third and fourth stimulus checks and an update on their status. The opportunities to claim or file for the first stimulus payment (issued in March and April 2020) or the second stimulus check (issued by Jan. 15, 2021) or the third stimulus check (issued between March and December 2021) have now passed. The deadline to file for the third and last stimulus check was April 15, 2025, it marked a three-year deadline to claim any tax refunds or in this case, the $1,400 Recovery Rebate Credit for that year — 2021. Even if you received a tax extension, you still needed to file your 2021 tax return by the April 15, 2025 deadline to claim that third stimulus check. There are no extensions or appeals available for missed deadlines, and any unclaimed stimulus payments become the property of the U.S. Treasury. While rumors and speculation about a fourth stimulus check of $2,000 have surfaced on social media and unverified websites, there has been no official confirmation from Congress or the IRS to support this claim and any such news should be taken with caution as it could be misinformation or attempted fraud. In February, President Donald Trump said he would consider the plan to pay out $5,000 stimulus checks to taxpayers in the form of a 'DOGE dividend' during a summit in Miami. He explained it as using part of the 20% of the savings identified by Musk's Department of Government Efficiency (DOGE) and giving it back to taxpayers. However, he has not shared any further specifics or details about the possible 'DOGE dividend' or its certainty since then. Here's what to know about tracking your tax refund and when to expect it. When will I get my tax refund? If you filed your federal taxes electronically and included your banking information, then you may expect a direct deposit within 21 days. If you did not include banking information, then you may expect a paper check refund via the mail within 6-8 weeks. Submitting your return is not the same as the IRS accepting your return. Once it is accepted, you will know it has if you see a "Refund Sent" alert when you check your tax return status online, at which point you won't have to wait too long for the funds to show up in your account. Once the IRS approves your refund, it could hit your bank account within days via the direct deposit option. How to check on my federal refund status? The IRS has an online tool called "Where's My Refund" that allows you to check on the status of your refund. Click here. You can start checking the status of your refund within 24 hours after you e-filed your return. The refund information is updated on the IRS website once a day, overnight. The online tool requires you to enter your Social Security number, filing status and exact refund amount on the return. It will then respond with a return received (processing), refund approved (preparing to issue refund by date shown) or refund sent (send to your bank or in the mail). Again, once it shows the IRS has approved your refund, it could hit your bank account within days via the direct deposit option. The other way to check on the status is to call the IRS at 800-829-1954. What is IRS refund schedule 2025? If your taxes were electronically filed and accepted by April 15, it is estimated that you may expect a direct deposit federal refund from the IRS by May 6 or June 16th by mail. How to check on my state refund status? Most states have dedicated online portals for tracking income tax returns. The Delaware Division of Taxation has established an online portal you can access to check the status of your state refund. To check on Pennsylvania online portal for state tax refund, click here. To check on New Jersey online portal for state tax refund, click here. Maria Francis is a Pennsylvania-based journalist with the Mid-Atlantic Connect Team.
Time of India
08-05-2025
- Business
- Time of India
No new federal stimulus checks in 2025 as of now, but states are offering relief
Many Americans are wondering if another round of federal stimulus checks is on the way. While past payments provided much-needed relief during the pandemic, the prospect of new economic assistance remains unclear. No New Federal Stimulus Payments Yet There has been no official confirmation from Congress or the IRS regarding a fourth stimulus check in 2025, despite ongoing financial struggles due to rising inflation and economic uncertainty. #Operation Sindoor Live Updates| From Sindoor to showdown? Track Indo-Pak conflict as it unfolds India's biggest strike against Pakistan since 1971: 70+ terrorists, aides killed Pakistan mounts campaign of lies, deceit and disinformation Although some social media users and unverified websites have circulated rumors about $2,000 checks, these claims have yet to be backed by legislative action. Deadline to Claim Past Stimulus Payments 5 5 Next Stay Playback speed 1x Normal Back 0.25x 0.5x 1x Normal 1.5x 2x 5 5 / Skip Ads by by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Term plan with 99.17% Claim Settlement Ratio for FY24! ICICI Pru Life Insurance Plan Get Quote Undo For those who missed out on the third stimulus check issued in 2021, the deadline to claim the Recovery Rebate Credit has already passed. The IRS set April 15, 2025, as the final date for taxpayers to file for this $1,400 payment. If you did not receive the full amount or are eligible for a rebate, you had to submit your tax return by this date. Unfortunately, any unclaimed funds are now part of the U.S. Treasury's coffers. The 'DOGE Dividend' Proposal While a new federal check may not be imminent, there are some bold proposals on the table. President Donald Trump has mentioned the idea of a 'DOGE Dividend,' where Americans could potentially receive $5,000 payments sourced from savings found in the Department of Government Efficiency ( DOGE ). Live Events This initiative would aim to distribute money to taxpayers. While the idea has garnered some attention, it remains unclear whether this plan will move forward, and critics have raised concerns over its economic feasibility. Moreover, Elon Musk stepping back from his role in DOGE raises questions about the plan's future viability. State Relief Initiatives Some states are stepping up with their own relief programs. New York has already announced a 2025 stimulus payment based on 2024 tax filings. These checks will be sent to eligible residents later this year as part of the state's ongoing efforts to ease the financial burden on households struggling with rising costs. The payments are expected to be sent later this year, but specific details are still pending. While some lawmakers continue to advocate for more relief, no official legislation has been passed. For now, taxpayers should focus on filing their taxes accurately and on time and keep an eye on potential state-level assistance that may provide some financial relief. The future of federal stimulus checks remains uncertain. Frequently Asked Questions When will I get my tax refund? If you filed your federal taxes electronically with banking info, expect your refund via direct deposit within 21 days. Without banking details, a paper check will arrive in 6-8 weeks. Once the IRS accepts your return, you'll see a "Refund Sent" alert, and the funds should arrive shortly after. How to check the status of your refund? To check your federal refund status, use the IRS "Where's My Refund" tool on their website. You can start checking 24 hours after e-filing. Enter your Social Security number, filing status, and refund amount. The tool will show if your return is still processing, approved, or sent. You can also call the IRS at 800-829-1954 for updates. What is the IRS refund schedule? If your taxes were electronically filed and accepted by April 15, 2025, you can expect a direct deposit refund from the IRS by May 6. If you opted for a paper check, it may arrive by June 16. What is a stimulus check? It is a form of financial relief provided by the government to individuals or businesses, often in the form of direct payments or tax credits, to help stimulate the economy. These measures are typically used during economic downturns or crises to encourage spending, boost economic activity, and support households or businesses facing financial hardship.
CBS News
15-04-2025
- Business
- CBS News
Deadline to file with the IRS for a missed $1,400 stimulus check is April 15. Here's what to know.
The IRS has a message to people who think they might have missed out on a stimulus check or a tax refund for the 2021 tax year: Today's the last day to claim the money. The tax agency in December sent $2.4 billion in "special payments" to about 1 million taxpayers. In doing so, part of their goal was to make sure that people who missed out on federal stimulus payments issued during the pandemic would finally get their money. But there may still people who have fallen through the cracks, missing out on the stimulus payments or their tax refunds for 2021, the IRS said earlier this month. That could have occurred in cases where someone didn't file a tax return for that year, which means they would need to file a 2021 tax return before midnight tonight, according to the agency's guidelines. The IRS estimates that about 1.1 million people didn't file their 2021 tax returns, and may be eligible for the stimulus check, tax refund or both. The Recovery Rebate Credit is aimed at taxpayers who didn't get all or some of the stimulus checks when they were issued during the pandemic. Lawmakers authorized three stimulus payments, with two sent in 2020 and a third in 2021. The maximum amount is $1,400 per person, including all qualifying dependents claimed on a tax return. That means a single person with no dependents could qualify for a maximum of $1,400, and joint filers with two dependent children could qualify for as much as $5,600, according to the IRS. The IRS says that most people who were eligible for the stimulus payments have already received them — either in 2020, 2021 or in December 2024 when the agency started sending checks to people who hadn't claimed the Recovery Rebate Credit on their 2021 returns. But individuals who didn't file a 2021 tax return might still be eligible for the money, the IRS said. The tax agency says the fastest way for people who didn't file their 2021 taxes but believe they might qualify for the payment is to e-file their tax returns. The deadline to file your 2021 tax return is midnight on April 15. Some people who didn't file their taxes in 2021 may also qualify for refunds, with the IRS estimating that about $1 billion in refunds remains unclaimed by individuals who failed to file their 2021 tax forms by April 15, 2022. "There is no penalty for failure to file if a refund is due. However, a return claiming a refund must be filed within three years of its due date for a refund to be allowed," the IRS noted, meaning that the last day to claim the money is April 15, 2025.
Yahoo
15-04-2025
- Business
- Yahoo
April 15 is deadline for some to claim $1,400 IRS stimulus check. Here's who's eligible.
The window for certain Americans to claim a bonus check from the IRS will close by end of day on April 15. The Internal Revenue Service announced in December that about $2.4 billion in stimulus checks − worth up to $1,400 per individual − would be distributed to eligible U.S. taxpayers who did not claim the Recovery Rebate Credit on their 2021 tax returns. Payments were automatically sent out earlier this year to qualifying individuals who filed their 2021 tax returns, but over $1 billion in refunds were still unclaimed due to individuals who had not filed their 2021 tax returns yet, the agency said April 11. The IRS previously found more than 1 million eligible taxpayers failed to claim the Recovery Rebate Credit, a refundable credit for individuals who did not receive one or more Economic Impact Payments also known as stimulus checks, when filing their returns in 2022. Here's what to know about the $1,400 payment, including details on whether or not you may be eligible to claim it. Individuals who are eligible for the Recovery Rebate Credit but have not yet filed a 2021 tax return have until April 15, 2025, to file and receive the payment. (April 15, 2025, is also the deadline to file your 2024 tax returns.) The IRS said 1.1 million people had not filed their 2021 tax returns and could be eligible for the payment of up to $1,400. Eligible individuals must file a tax return to claim a Recovery Rebate Credit, even if their income from a job, business or other source was minimal or non-existent. The Recovery Rebate Credit was created to compensate individuals who did not receive one or more stimulus checks during the COVID-19 pandemic. The IRS previously issued three rounds of stimulus payments throughout the COVID-19 pandemic, which means most eligible individuals have already received stimulus payments and won't be eligible to claim the RRC. Those who did not receive the full amount of the third stimulus check, sent in March 2021, may be eligible for the Recovery Rebate Credit on their 2021 tax return. The agency has previously urged taxpayers not to include information about the first two checks sent in 2020, nor the 2020 Recovery Rebate Credit, on their 2021 tax returns. The IRS has been issuing the special batch of payments to those who were eligible for Recovery Rebate Credit but did not claim it on their 2021 tax return or failed to file taxes for 2021. The deadline to file the 2021 return in hopes of receiving the payment is April 15, 2025. Those who did not claim the credit but did file their 2021 tax returns should have automatically received their payments in December 2024 or January 2025 without taking any action. Taxpayers can check if they claimed this credit by looking at their 2021 tax return and checking if they left the Recovery Rebate Credit field blank or filled it out as $0. To see which stimulus checks, or Economic Impact Payments (EIP), you may have received, the IRS encourages you to sign in to your online account and check the 'Economic Impact Payment Information' section on the "Tax Records" page. Payments were sent to eligible taxpayers automatically starting in December 2024 and continued through late January 2025. Eligible taxpayers would have also received a letter notifying them of the payment, and the payments were either automatically direct deposited or sent by paper check. Taxpayers who did not file a 2021 tax return may still be eligible for the check if they file their return and claim the Recovery Rebate Credit by April 15, 2025. An eligible taxpayer may receive up to $1,400, according to the IRS. The stimulus amount is dependent on your adjusted gross income. In order to qualify for the full $1,400, the taxpayers' annual income must not have been more than $75,000 for single filers or $150,000 for married couples filing jointly. For additional information or questions about how the payment was calculated or how payment eligibility was determined, visit the IRS website. The payment will be sent to the bank account listed on the taxpayer's 2023 tax return or to the address of record. Contributing: Greta Cross, USA TODAY; Maria Francis, USA TODAY Network This article originally appeared on USA TODAY: Deadline is here to claim $1,400 IRS stimulus checks. Who qualifies? Sign in to access your portfolio
