$2000 Direct Deposit from IRS this October: What to Know About Stimulus Checks

There’s been a surge of misinformation circulating online about a $2000 direct deposit from the IRS this October. However, it’s essential to separate fact from fiction. According to the IRS, there’s no confirmation on a new stimulus check or direct deposit for October.

The Truth About Stimulus Checks

The federal government has not announced any new stimulus checks, and the last round of payments was part of the pandemic-era relief efforts. The IRS has been sending payments to eligible individuals who hadn’t claimed their Recovery Rebate Credit for tax years 2020 and 2021. These payments can range from $1,400 per person, plus $1,400 per dependent, for those who qualify.

Eligibility Criteria

To be eligible for the Recovery Rebate Credit, individuals must have:

• A valid Social Security number
• Income under $75,000 for single filers or $150,000 for joint filers
• Filed a tax return for 2021

Beware of Scams

The IRS warns against text scams and impersonators seeking personal and financial information. Be cautious of unsolicited messages or calls claiming to be from the IRS.

Proposed Legislation

There’s a proposed bill, the American Worker Rebate Act, which aims to provide tax rebates to American families. Introduced by Senator Josh Hawley, the bill proposes sending $600 to $2400 to taxpaying families. However, this is still in the proposal stage and hasn’t been passed into law.

State Rebates

While there’s no federal stimulus check, some states are offering rebates and tax relief to their residents. These include ¹:

• California: Sacramento Family First program providing $725 monthly payments to low-income families
• Colorado: TABOR refunds ranging from $177 to $1,130 per taxpayer
• Georgia: Tax rebates of up to $500 for individual taxpayers
• Massachusetts: 62F tax refund program (although this has ended)
• Michigan: Working Families Tax Credit providing up to $550 per family
• New Jersey: ANCHOR Program offering up to $6,500 in property tax relief
• New York: School Tax Relief Program (STAR) and Inflation Relief payments
• Pennsylvania: Property Tax/Rent Rebate program for eligible residents
• Virginia: One-time tax rebates of up to $200 for single filers and $400 for joint filers

If you’re expecting a tax refund or stimulus payment, track it through the official IRS website or contact your state’s tax authority for more information.