The IRS just gave the best possible news to thousands of Americans, with a record payment that you could receive this month. Could this be your chance to receive a $8700 IRS Payment and to get the best possible economic stimulus? After fact-checking the hoaxes of the last few weeks, it’s time to describe the real programs you have access to (and what has happened these days since a real hysteria has spread across the States).
Is any $8700 IRS payment coming this month? The truth about the latest news?
Some of the developments that have sparked interest in the past few days are the $8700 IRS payment check stimulus claim many Americans are asking themselves if it is true. Speculations surrounding the bonus have come due to posts over online forums and social networks, but the real picture is painted by the context and real payments per each form.
In the current era before and during COVID-19, the federal government employed different forms of stimulus checks to assist the citizens overcome certain economic hardships they encountered. These helping Economic Impact Payments (EIPs) have aimed at encouraging people to spend more to revive the economy.
The details that are circulating currently about the $8700 IRS payment are still rumors, rumors tend to include bits of the truth but are mostly filled with false information. As we write this post, there is no such statement from the government that will pay $8700 to each American once and for all.
Where did the hoax originate? Without naming any digital media, we are going to show you the news (not the headline, it is paraphrased for privacy) that gave rise to the confusion: “The proposed Child Tax Credit introduces payments of $350 monthly to families in need with a total of $8700 over six months starting June 15th”.
How to prevent hoaxes like $8700 Social Security payment: our advice for you and your family
There is a need to exercise some measure of caution in handling matters concerning the stimulus checks, especially on social media forums. The IRS specifically cautions against several schemes: payments for stimulus checks, subsidies, incentives, and similar others, and benefits.
To prevent the dissemination of incorrect information, citizens should go to the portals of the government and the official website such as the online service of Benefits.gov, GovLoans.gov, and Grants.gov. Thus, adding the ending of ‘.gov’ to it to indicate the actual federal aid programs.
All is not lost: Child Tax Credit (the real one) and other payments you can receive this month
While there are some phony programs regarding child benefits that circulate on the Internet, the Child Tax Credit is a genuine program that may help families with children. To entice taxpayers to claim dependents while filing taxes for the fiscal year 2023, the IRS presents a tax credit of up to $2,000 on every dependent under 17 years of age.
Currently, the enhanced CTC ranges from $2,000 to $3,600 for children under the age of 17, depending on the household’s adjusted gross income according to the latest taxes filed in 2022, for single filers earning less than $75,000 and married filers with incomes below $150,000.
Payments will be in equal monthly payments, before the 15th of each month and will run until December 2024. The IRS reportedly wants to pay via Direct Deposit for any individual who has included the bank account information in his/her documents. Through the coronavirus stimulus check, other stimulus payments or COVID benefit funds are coming.
For instance, citizens of Alaska are likely to get a cheque from the account belonging to the Permanent Fund Division which is derived points from the natural resources in the state. According to the current laws in California, taxpayers are eligible to request a one-time tax rebate of 33333 dollars if they meet certain criteria.
Isn’t this new opportunity to receive an $8700 IRS payment exciting? No, it was just a massive hoax that we just dismantled. However, we did get a look at some of the other payments you have access to this month that have been confirmed by the IRS. Again, these programs are also compatible with the Stimulus Checks that have been confirmed in recent weeks, as well as the Tax Rebates that several states are beginning to roll out.
