Over the past few years, the term “stimulus check” has become part of everyday conversation. These payments, often called Economic Impact Payments (EIPs), were a key tool during the COVID-19 pandemic to offer much-needed financial support.
Yet, as we distance ourselves from the pandemic, rumors of new stimulus payments, like the supposed “IRS 8700 stimulus check,” have been swirling online.
Let’s dive into the details to clear up the confusion and understand the current state of stimulus payments.
COVID-19 Stimulus Payments
During 2020 and 2021, the U.S. government issued three rounds of stimulus checks to help Americans weather the economic turmoil caused by COVID-19.
These payments were essential for many people, helping them afford rent, groceries, and utilities during a period of economic uncertainty.
Here’s a breakdown of the three rounds of federal stimulus payments:
| Round | Amount per Adult | Amount per Child |
|---|---|---|
| First Round (2020) | $1,200 | $500 |
| Second Round (2020) | $600 | $600 |
| Third Round (2021) | $1,400 | $1,400 |
These payments were part of larger economic packages, designed to boost spending and cushion the economy from the pandemic’s impacts.
No New Federal Stimulus Checks
With the recovery of the economy and rising vaccination rates, the U.S. government has stopped issuing broad federal stimulus checks. As of now, the IRS has no plans to release additional stimulus payments related to the pandemic.
However, if you were eligible for any of the past stimulus checks but didn’t receive them, you may still be able to claim your missing payment by filing a tax return. Even those who don’t typically file taxes due to low income can still file to claim the funds they’re owed.
State Relief Programs
While federal stimulus payments have ended, several states have created their own relief programs to support residents.
These state-level initiatives are designed to address specific local needs, ranging from tax rebates to help offset inflation to energy relief programs for low-income households.
These programs vary significantly from state to state. For example, California provided tax rebates to help residents with rising costs, while other states rolled out programs focused on utility or rent assistance.
It’s essential to keep in mind that these state programs are constantly changing, so it’s best to check your state government’s official website for the most up-to-date information.
The $8,700 Stimulus Check Hoax
In mid-2023, rumors about a supposed “IRS $8700 stimulus check” started circulating online, causing a spike in searches and interest. However, this claim was entirely false. There was never any official announcement from the IRS or any credible news outlet regarding such a payment.
The IRS was quick to dismiss the rumor, with spokesperson Robert Marvin issuing a statement in July 2023, warning the public about scams promising large government payments.
Scammers often use these kinds of rumors to trick people into sharing personal information or falling for fraudulent schemes.
Beware of Stimulus Scams
The $8,700 hoax is just one of many scams that have emerged in the wake of the pandemic. Fraudsters are constantly looking for ways to exploit people’s financial struggles by promising free government money. These scams can come in many forms, such as:
- Phone calls pretending to be from the IRS
- Emails that appear to be from a government agency
- Social media posts advertising new stimulus checks
- Fake websites mimicking official government sites
Always remember that the IRS will never ask for personal or financial information via email, social media, or unsolicited phone calls. If you’re unsure whether something is legitimate, always check official government websites (ending in .gov) for confirmation.
Protecting Yourself from Scams
To safeguard yourself from falling victim to scams, keep these tips in mind:
- Be cautious of unsolicited communications promising government payments.
- Never share your Social Security number or bank details with unknown sources.
- Check official government websites for updates on financial relief.
- Avoid believing social media posts that promise free government money.
- If something sounds too good to be true, it probably is.
Seeking Financial Assistance
While federal stimulus checks are no longer available, there are still resources for those in need of financial help:
- State and local programs: Many states offer financial assistance for housing, utilities, and other needs.
- Federal benefits: Visit Benefits.gov to explore programs you might qualify for.
- Utility aid: Some utility companies provide bill assistance for low-income families.
- Food assistance: Programs like SNAP (Supplemental Nutrition Assistance Program) can help with grocery costs.
- Nonprofits: Many local organizations provide financial aid, especially for those struggling to meet basic needs.
Although we are past the days of federal COVID-19 stimulus checks, there are still options for people in financial distress. Stay informed and be cautious when navigating the various relief programs and scams that emerge in their wake.
FAQs
Is there an $8,700 IRS stimulus check?
No, this is a hoax that has been debunked by the IRS.
Can I still claim past stimulus payments?
Yes, file a tax return to claim missed stimulus payments.
Are there any new federal stimulus checks?
No new federal stimulus checks are planned as of now.
How do I check for state relief programs?
Visit your state’s official government website for updates.
How do I spot a stimulus check scam?
Be wary of unsolicited calls, emails, and social media posts promising free money.
