In July 2024, the Internal Revenue Service (IRS) announced stimulus payments of $200 and $1400 to qualified American residents. These payments are intended to provide financial relief to individuals and families affected by economic hardships, particularly those intensified by the COVID-19 pandemic.
Payments
Starting in July 2024, the IRS will begin distributing $200 and $1400 payments to eligible citizens. This financial assistance is aimed at supporting Americans experiencing financial challenges, including new parents who have had a child since 2021 and have consistently filed their tax returns by July 2024.
Eligibility
To be eligible for the $200 and $1400 stimulus payments, individuals must meet specific income criteria:
- Singles: Earn less than $75,000 annually to qualify.
- Heads of households: Earn less than $112,500 annually to qualify.
- Married couples filing jointly: Earn less than $150,000 annually to qualify.
Partial payments are accessible for individuals slightly above these thresholds, with a phase-out beginning at $80,000 for singles. Moreover, individuals claiming dependents such as college students and seniors will receive $1,400 per dependent.
Application
Applying for the stimulus payments is a simple process:
- Visit the IRS Website: Navigate to www.irs.gov.
- Use Get My Payment: Select the “Get My Payment” option.
- Fill Out the Form: Complete the online form with necessary information and documents.
- Await Confirmation: Submit the form and await communication from the IRS regarding eligibility and payment status.
Payment Schedule
The IRS has established payment dates for the $200 and $1400 stimulus checks:
| Date |
|---|
| July 13, 2024 |
| July 15, 2024 |
| August 13, 2024 |
| September 15, 2024 |
| October 15, 2024 |
| November 15, 2024 |
| December 15, 2024 |
Checking Payment Status
To track payment status, regularly monitor bank accounts for deposits and visit the IRS website for updates.
Fact Check
To confirm specific payment dates, it’s important to verify rumors through official IRS channels. Official announcements on the IRS website offer the most reliable information regarding stimulus payments.
The expected $200 and $1400 stimulus payments in July 2024 are intended to offer substantial economic relief to eligible American residents. Ensure eligibility and adhere to the IRS process to ensure prompt and accurate payments.