During the COVID-19 pandemic, the stimulus checks were very important to the finances of many American families. Many people are still interested in these payments, which are meant to help millions of people deal with the tough economic times caused by the crisis. As the autumn of 2024 draws near, many people are asking if they will get any more stimulus checks. We’ll explain what’s going on now and what to expect below.
A stimulus cheque is a straight payment from the government to people to help them out when the economy is bad. During the pandemic, the US government passed a number of stimulus packages that gave most Americans direct funds. At a time when many people were out of work or had their incomes cut drastically, these checks were meant to help pay for things like rent, groceries, and energy bills.
What is a stimulus check and why have they been issued?
Some time ago, the last of these federal payments was sent out. However, many states have continued to help their people by sending out stimulus checks or tax rebates.
At the government level, 2024 has not been set aside for any new general stimulus checks. Some people may get extra funds, though, thanks to programs that are only available in some states. For example, people in Colorado who meet certain income and residency standards can get refunds through a program called TABOR, which stands for “Taxpayer’s Bill of Rights.”
Another example is Michigan, where payments have been issued as part of a tax credit for working families. While the majority of these payments have already been made, some people who have not yet received their check might still have an opportunity to claim it, provided they submit the necessary documentation before the end of the year.
What about federal stimulus checks?
Even though no new government stimulus checks are expected, it’s still a good idea to know about other benefits that some groups may still be able to get. For instance, people who get Social Security payments, like those who get Supplemental Security Income (SSI) or Social Security Disability Insurance (SSDI), continue to get their regular payouts.
Cost-of-living changes can be part of these payments. These aren’t really stimulus checks, but they can help people who need it financially.
Furthermore, there have been rumor’s that seniors could receive extra stimulus payments, but no official announcements have been made about a new round of checks. If you get Social Security, it’s a good idea to check with the Social Security Administration or the IRS to see if there are any payments that are still going to be made.
What should you do if you think you have an outstanding check?
The most important thing is to move quickly if you think you might still be owed a stimulus cheque from the federal or state government. Look over your most recent tax returns to see if you are eligible for any extra funds. You can do this by going to the website of either the IRS or the tax office in your state.
It’s also a good idea to keep an eye out for official messages. The federal and state governments sometimes let people know when they are eligible to get these payments. Don’t be afraid to call the IRS or your state’s tax office if you’re not sure about your situation. They can answer any questions you may have.
Are there more stimulus checks in 2024?
To sum up, there isn’t a new government stimulus check program for 2024, but some states are still giving money out through other programs. You might still get paid before the end of the year if you live in a state like Colorado or Michigan.
Additionally, if you receive Social Security, keep an eye out for any changes or extra payments that may be released. Stay up-to-date and check your taxes often to make sure you don’t miss any chances to get an extra check.