The IRS is ready to distribute additional stimulus checks to qualified US individuals, with the amount varying according to their tax payments. Check if you’ll receive this money soon. The United States has concluded its tax season. Although millions of people have until April 15 to complete their tax forms, this does not mean that you will no longer be in contact with the IRS. The greatest part, for many, is still to come: your tax refund, which is the money you will receive back from the government if you overpaid.
The Internal Revenue Service (IRS) has surprised millions of Americans with $1,400 stimulus checks
The IRS still reviews the forms it receives every day, but you may no longer file a return on time without an extension. After a thorough review of each tax return, the process of transferring the appropriate funds starts if everything is accurate. Because of this, even though tax season is technically finished, you might still see your tax return in your bank account at any moment. Due to its unexpected magnitude and potential to alleviate financial strain, many people view this refund as new stimulus checks.
Several factors affect how long it takes for your tax refund to arrive, but the date you submitted your return is one of the most crucial. Your account should receive the deposit sooner if you filed as soon as possible. The IRS has stated that, provided there are no mistakes and the electronic method was utilized, refunds often take up to 21 calendar days to process. The following are some rough samples according to the filing date:
- Filing a return between April 1 – April 15: Your check may be sent between April 22 and May 6.
- Returns filed in March: If your refund hasn’t come, it might be awaiting verification; many have already been processed.
- Return filed before March 1: Except in situations that need more examination, payment ought to have been made already.
- Return filed after April 15: Payments for individuals who have already filed are still being made, even if processing might take longer.
Additionally, people who select direct deposit as their method of collection typically receive their money far more quickly. However, the procedure can take a few extra weeks if you asked for your refund via paper check.
How can eligible recipients track their IRS refund?
Definitely, the “Where’s My Refund?” tool available on the IRS’s official website is the easiest way to track stimulus checks in the US. You will require the following details to access it:
- Your ITIN, or Social Security number.
- The state of your marriage (married, single, etc.).
- The precise amount of your anticipated reimbursement.
The platform will indicate whether your payment has been received, is being processed, or has been sent once you enter this information. Keep in mind that you can also track your refund status and receive notifications with the IRS2Go smartphone app. It can be easier to manage your money without a typical bank account if you choose Direct Express as your collection method. The IRS also deposits refunds directly to this card for people who choose it, especially those who qualify for federal programs. So refunds are still coming, even though tax season is over. And you should see that extra cash in your pocket soon, assuming everything is in order.
Without Musk, will people still be able to receive DOGE stimulus checks?
Musk proposed a $5,000 stimulus package for Americans to receive from DOGE savings early in his tenure with the Department of Government Efficiency. A dividend check for the same amount from government savings was later proposed as well. Dividends are the profits that a company distributes to its shareholders, while refunds are the payments that are made back to the users. If DOGE dividend checks are treated as federal tax refunds, they may not be taxed. However, if they are classified as actual “dividend” checks, federal taxes would be applied based on income.
In February, Musk promoted the substantial savings DOGE had already achieved and then brought up the concept of stimulus checks. Initially, the proposal stated that the stimulus checks would only be sent out if DOGE met its $2 trillion savings target. Congress would have the last say over whether or not the $5,000 stimulus checks are sent to American taxpayers, should a check arrive. Potential stimulus checks will only be sent to households with an adjusted gross income of under $40,000, as most Americans with an adjusted gross income of under $40,000 pay no federal income tax.
