In July 2024, the Internal Revenue Service (IRS) will distribute stimulus payments to help Americans who have faced financial challenges, especially due to the COVID-19 pandemic. Here’s a simple guide on how these payments work, who qualifies, and how to apply.
What Are the July 2024 Stimulus Payments?
The IRS will issue two types of payments in July 2024: $200 and $1,400. These payments are designed to offer financial relief to people and families struggling economically. The goal is to help those who have been most affected by recent hardships.
Who Is Eligible for These Payments?
To receive the $200 or $1,400 stimulus payments, you must meet specific income requirements:
- Singles: Earn less than $75,000 per year.
- Heads of Households: Earn less than $112,500 per year.
- Married Couples Filing Jointly: Earn less than $150,000 per year.
If your income is slightly above these limits, you might still get a partial payment. The payments start to phase out if you earn more than $80,000 if you’re single. Additionally, if you have dependents like college students or seniors, you’ll get $1,400 for each one.
How to Apply for the Stimulus Payments
Getting the stimulus payments is a simple process. Follow these steps:
- Visit the IRS Website: Go to www.irs.gov to start the application.
- Get My Payment: Click on the “Get My Payment” option on the site.
- Complete the Form: Create a profile, fill out the form with your details, and attach any required documents.
- Wait for Confirmation: Submit the form and wait for the IRS to review it and inform you about your payment status.
When Will the Payments Be Made?
The IRS has scheduled the payments on the following dates:
- Saturday, July 13, 2024: $200 and $1,400
- Monday, July 15, 2024: $200 and $1,400
- Tuesday, August 13, 2024: $200 and $1,400
- Friday, September 15, 2024: $200 and $1,400
- Tuesday, October 15, 2024: $200 and $1,400
- Friday, November 15, 2024: $200 and $1,400
- Sunday, December 15, 2024: $200 and $1,400
How to Check the Status of Your Payment
To check the status of your payment, keep an eye on your bank account for any deposits. You can also visit the IRS website for updates and detailed information about your payment.
Fact Check
There have been some rumors about the $200 and $1,400 payments. While there is talk of these payments being made in July 2024, it is important to verify information through official sources. As of now, the IRS website hasn’t confirmed these specific dates, so rely on official announcements for accurate details.
The $200 and $1,400 stimulus payments planned for July 2024 are intended to offer financial support to those who need it most. By meeting the eligibility criteria and following the application steps, you can benefit from this relief. Always check the IRS website for the latest and most accurate information.
Who qualifies for the stimulus payments?
Singles under $75k, heads of households under $112.5k, couples under $150k.
How do I apply for the stimulus payments?
Visit the IRS website and complete the online form.
When will the payments be made?
Starting July 13, 2024, with additional dates in August to December 2024.
Can dependents receive payments?
Yes, dependents like college students and seniors get $1,400 each.
How do I check my payment status?
Monitor your bank account and visit the IRS website for updates.
