As of March 19, 2025, there are a few notable developments regarding stimulus payments in the United States:
Recovery Rebate Credit for 2021 Tax Returns:
The IRS is offering stimulus payments of up to $1,400 for individuals who did not claim the Recovery Rebate Credit on their 2021 tax returns. To be eligible, you must file your 2021 tax return by April 15, 2025. The IRS will automatically issue these payments without requiring an amended return.
Income limits for full payment are $75,000 for individuals and $150,000 for married couples filing jointly, with phase-outs at $80,000 and $160,000, respectively.
Proposed DOGE Stimulus Checks:
There’s a proposal under consideration to issue $5,000 stimulus checks funded by savings from the Department of Government Efficiency (DOGE), led by Elon Musk. The plan suggests redistributing 20% of DOGE’s savings to taxpayers. However, this proposal requires congressional approval, and its future remains uncertain.
State-Level Stimulus Payments:
Some states are introducing their own stimulus payments. For instance, Alaska, California, and New Jersey are offering payments ranging from $1,750 to $6,000, depending on residency and income criteria. It’s essential to check your state’s official resources for specific eligibility requirements and application deadlines.
Important: It’s crucial to note that these U.S. stimulus payments are generally intended for U.S. residents and citizens. If you are a U.S. citizen residing abroad, you may still be eligible for certain payments, but it’s advisable to consult the IRS or a tax professional for guidance.