As anticipation mounts for potential financial relief, the Internal Revenue Service (IRS) has unveiled guidelines for the distribution of the fourth round of stimulus checks in 2024. With no official confirmation from the US government regarding additional stimulus checks, the IRS outlines criteria and payment details based on proposals and discussions. Here’s what you need to know:

Eligibility Criteria:

• Adjusted Gross Income (AGI): Individuals with lower incomes are likely to receive the full payment amount, with eligibility phasing out for higher earners. Estimates suggest full eligibility for single filers with an AGI of around $75,000 and $150,000 for married couples filing jointly.
• Filing Status: Eligibility is determined based on the filing status on the most recent tax return (individual, joint, head of household).
• Dependents: Children under 17 may qualify as dependents and be eligible for additional payments.

Potential Payment Amounts:

• Total Payment: Estimated amounts range from $250 for individuals to $500 for couples filing jointly.
• Phase-Out: Payments gradually decrease as income increases within the phase-out range.
• Partial Payment: Individuals within the phase-out range may still receive a partial payment, potentially capped at a certain amount.

State-Specific Information:

• States are issuing surplus credits to eligible citizens, processed according to tax rebate norms.
• Eligible individuals should check for rebate payments in their respective states and understand how to claim them.

IRS Payment Status Check:

• To check the status of the Fourth Stimulus Check from the IRS website, follow these steps:
  1. Visit the official IRS website.
  2. Log in using your credentials.
  3. Enter your social security number or tax ID.
  4. Look for the link to check your IRS Tax Fourth Stimulus Check payment status.

Conclusion: While there’s no official confirmation of a fourth round of stimulus checks, the IRS provides insights into potential eligibility criteria and payment amounts based on discussions and proposals. Eligible individuals are encouraged to stay updated on IRS announcements and check their payment status through the official website.