The Internal Revenue Service is all set to release the Stimulus Payments this December 2024. Certain states like California, Maine, Arizona, New York, and Maryland are providing these stimulus payments to eligible citizens. They are preparing to issue the last stimulus check to the qualifying citizens as part of the economic assistance.
These payments are focused on addressing economic difficulties such as the living costs and inflation that have influenced the country in recent months. It is worth noting down the eligibility criteria, and payment dates, as it will differ from state to state. This post contains relevant information on the Stimulus Payments December 2024. Please read it to the end.
Stimulus Payments December 2024
In December 2024, millions of Americans will be getting financial aid from the US government. Eligible citizens of specific states can track for Stimulus Payment from irs.gov. Each state will be providing a different amount to the eligible beneficiary. To find out if you are among the many Americans who will be receiving more stimulus funding in the final month of 2024, you should verify the qualifying requirements for your state if you reside in one of them.
The first and second waves were advance payments made in 2020 and early 2021 for the fiscal year 2020. According to IRS, taxpayers have three years to file their returns and request refunds, even if the majority of eligible beneficiaries have already benefited from this assistance. For now, the only payments confirmed for next year are the ones that are still pending. This is because the Recovery Rebate Credit, which was introduced for those who did not receive their Economic Impact Payment, had a deadline of May 17, 2024, for the 2020 return, but the 2021 RRC can be filed until April 15, 2025.
Overview of Stimulus Payments in December 2024
| Article On | Stimulus Payments December |
| Department | Internal Revenue Service (IRS) |
| Country | United States of America |
| Year | 2024 |
| Beneficiaries | Residents of United States |
| Stimulus December Payment Date 2024 | Vary from state to state |
| Payment Amount | Varies |
| Category | Financial Aid |
| Official Website | irs.gov |
What is a Stimulus Check?
A stimulus check is a payment given directly to individual taxpayers in the form of a direct deposit or paper check. In times of economic hardship, the United States government provides the payment to eligible citizens in an effort to boost the economy.
The IRS determines the eligibility for payments based on some factors. They will use your 2020 Adjusted Gross Income if the taxes have been already filed for 2020. If not, the 2019 AGI will be used. The full amount will be paid to those making less than $75,000 and to joint filers whose AGI is less than $150,000; above that, it starts to phase off, and those whose AGI is more than $80,000 or $160,000 for joint filers are not eligible.
Individual taxpayers whose AGI is less than $75,000 will get $1,400 for themselves and an additional $1,400 for each dependant they list on their tax returns. Those who file jointly, like couples, and whose income is less than $150,000 will get $2,800 plus $1,400 for each dependant. As a result, a family of 4 earning less than $150,000 would receive $5,600.
Eligibility for Stimulus Payments
The Stimulus Payments 2024 will be given to those fulfilling the eligibility criteria. Not every person who gets the money on the initial round is entitled to this payment. Although the eligibility varies for each state these are the common criteria that need to be met by the beneficiary. Below you can check the Stimulus Payments Eligibility 2024:
- The individuals have to be legal citizens of the United States.
- The individual claiming for the December Stimulus Payment 2024 should have an annual income of less than USD 75000.
- The household income has to be less than USD 112,500 and the married couple who are filing jointly should have an income under USD 150,000 per annum.
What Stimulus checks will you receive next month?
In certain areas, eligible residents may also be eligible for a payment in December. Next month, Maine, California, Maryland, and Florida will all be providing money to some recipients.
- Maine: Half a million households, including qualified individuals with adjusted gross incomes under $75,000 for single tax filers and $150,000 for married joint filers, will receive $285 payments. These payments will continue to be made through December, having begun on November 15.
- California: Through the Golden State Stimulus II Program, the state is paying out payouts ranging from $500 to $1,100. Eligible people with incomes under $75,000 who lived in the state for more than half of 2020 and are still residents at the time of payment issuance may be eligible for these payments.
- Maryland: Low-income families in Maryland will get between $300 and $500 in stimulus funding. Over the next three years, many residents will also receive bigger tax returns under the state’s stimulus plan.
- Florida: In December, Florida will disburse stimulus funds to educators and first responders who serve students in Pre-K through 12th grade. Payouts of up to $1,000 are available to about 3,600 principals and 175,000 instructors.
Stimulus Checks December Payment Dates 2024
The Internal Revenue Service is giving out the Stimulus Checks to the eligible citizens. The payment dates for the upcoming stimulus checks are to vary from state to state in the United States of America. Every state will be giving out the Stimulus Checks Payments on different dates as per the requirement. You can get the latest updates regarding the dates on the irs.gov, an official site of the Internal Revenue Service. In case of any error contact them.
| Official Website | Click Here |
| Homepage | Philtranco.net |
How about Tennessee will they also be getting stimulus checks
Will people on ssi or disability get a stimulus cause we don’t do taxes