As high as prices are right now, Americans are wondering if the COVID-19 pandemic-era lifeline known as stimulus payments will return. Several states have already started to issue rebates based on their budget surpluses in response to skyrocketing inflation and lingering financial hardship from the COVID-19 pandemic, which killed millions of people, destroyed businesses, and slashed household incomes for many.
Demystifying Stimulus Payments in 2023: What You Need to Know
Three rounds of federal stimulus payments 2023 checks were issued in 2020 and 2021 to help ease the economic hardships caused by the COVID-19 pandemic. These Economic Impact Payments of $1,200, $600, and $1,400 helped ease the strain on some American households. The federal government’s 2023 omnibus spending bill passed in August and the current year’s budget bill passed in December does not mention any plans for a fourth round of stimulus checks.
States like Montana and New Mexico have been able to continue sending out their own versions of these state-specific relief payments by using budget surpluses. Other states have used surpluses to pay bonuses to frontline workers, such as firefighters and emergency medical responders.
Those who signed up for the first two rounds of these payments and successfully received their checks can check on the status of their third check using the IRS Get My Payment tool. You can also visit your local tax office if you are not required to file a tax return and have submitted a simplified tax form that was processed by the IRS or if you are receiving veterans disability compensation, pension, or survivor benefits from the Department of Veterans Affairs.