The stimulus checks became a critical part of the financial landscape for many American families during the COVID-19 pandemic. These payments, designed to help millions of citizens manage the economic hardships brought on by the crisis, continue to be a topic of interest for many. As we approach the fall of 2024, people are wondering: are there any more stimulus checks to be received? Below, we break down the current situation and what you can expect.
A stimulus check is a direct payment from the government aimed at assisting citizens during times of economic downturn. During the pandemic, the United States government approved several stimulus packages that included direct payments to most Americans. These checks were intended to help cover essential expenses like rent, groceries, and utility bills at a time when many people were either out of work or had their incomes significantly reduced.
What is a stimulus check and why have they been issued?
The last of these federal payments was issued some time ago, but several states have continued to provide their own stimulus checks or tax rebates to help their residents.
At the federal level, no new general stimulus checks have been approved for 2024. However, there are certain state-specific programs that might result in additional payments for some individuals. For instance, in Colorado, refunds are being distributed under a program known as TABOR (Taxpayer’s Bill of Rights), which offers payments to residents who meet certain income and residency requirements.
These payments are scheduled for late summer and early fall and could be as much as $1,694 for couples filing jointly.
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?
Although no new federal stimulus checks are expected, it’s important to stay informed about other benefits that might still be available to certain groups. For example, Social Security recipients, including those receiving Supplemental Security Income (SSI) or Social Security Disability Insurance (SSDI), continue to receive regular payments.
These payments can include cost-of-living adjustments, which, while not technically stimulus checks, do offer some additional financial relief to those who need it.
Moreover, there have been some rumors circulating about potential additional stimulus payments for seniors, though no official announcements have been made about a new round of checks. If you are a Social Security beneficiary, it’s a good idea to stay updated through official sources, like the Social Security Administration or the IRS, to find out if there are any pending payments.
What should you do if you think you have an outstanding check?
If you believe you might have a stimulus check still due, whether at the state or federal level, the most important thing is to act quickly. Review your recent tax returns and check if you meet the criteria for any additional payments. You can do this by visiting the IRS website or your state’s tax administration website.
It’s also a good idea to keep an eye out for any official communications, as state and federal governments sometimes send notifications to citizens who are eligible to receive these payments. If you’re unsure about your status, don’t hesitate to contact the IRS or your state’s tax office to clarify any questions you might have.
Are there more stimulus checks in 2024?
In summary, while there isn’t a new federal stimulus check program for 2024, some states are still offering payments under different programs. If you live in a state like Colorado or Michigan, you might still receive a payment before the end of the year. Additionally, if you’re a Social Security recipient, stay alert for any adjustments or additional payments that might be announced. Keep yourself informed and check your tax situation to ensure you don’t miss any opportunities to receive an extra check.