IRS $8700 Stimulus Check: As we all know that due to the COVID-19 epidemic government of every nation’s provide the support to their residents. Due to the COVID-19 epidemic, Americans got used to the idea of stimulus cheques, which were originally called Economic Impact Payments (EIPs) and were intended to help during a recession.
The Internal Revenue Service (IRS) swiftly put an end to speculations about a fourth stimulus check after these payments were made in three rounds throughout 2020 and 2021. Although there are no upcoming federal stimulus payments linked to COVID-19, those who were not able to claim their stimulus checks from earlier rounds may still be able to claim the payment if they complete the eligibility requirements.
IRS $8700 Stimulus Check by irs.gov
- While federal stimulus cheques tied to COVID-19 are no longer being provided, states and the IRS still offer various programs to assist citizens in coping with inflation and other financial difficulties.
- Due to the widespread usage of the term “stimulus checks” during the pandemic, these more recent payouts are frequently mislabeled as such. It is important to remember, though, that these relief initiatives are not the same as the government stimulus cheques that were provided in 2020 and 2021.
$8,700 Stimulus Check: Fraud or Not?
Many people thought that the IRS was sending new stimulus checks for $8,700 throughout the summer months because of the surge of searches for “IRS $8700 stimulus check IRS gov” on the internet. This assertion was later shown to be untrue, though.
There are no official reports or reliable news sources verifying the existence of such a payout, despite the fact that it has generated a lot of attention online. In the month of July 2023 press release, IRS spokesperson Robert Marvin noted that scammers claiming fresh stimulus cheques or government assistance payments are becoming more common.
- These scams aim to make people fool to think they are eligible for new stimulus grants related to the epidemic era.
- They frequently involve phone calls or emails that seem genuine.
- The $8,700 stimulus check story has gained hold for reasons that are unclear, but it is similar to previous fraudulent schemes that deceive individuals by offering them “free money”.
- Scammers spread false advertisements or news on the social media sites like Facebook, Instagram, and YouTube that purport the IRS, Congress, or the President have approved more stimulus funds or financial incentives.
Payment Amount Americans will actually claim
Here we are providing the details about the payment amount under the Child Tax Credit Program distributed in the year 2023.
- According to the current Child Tax Credit Law, Americans are still eligible for certain payments, even though the rumours of $8,700 stimulus check may not be accurate.
- The IRS reports that, if eligible children meet the requirements, the tax credit will be
- up to $2,000 per child starting in the year 2023.
- A child must be reported as a dependent on tax returns, have a Social Security number, and be under the age of 17 years at the end of the year 2023 in order to be eligible for the benefit payment.
