Now that October is here, some citizens will be due to receive ANCHOR checks or inflation refund checks. According to speculation going around on social media platforms, a fourth stimulus check valued anywhere from $1,300 to $2,000 is allegedly on the table. Despite the spread of these rumors on social media and some websites, this additional stimulus check is unfortunately an unfounded falsity, and neither the Internal Revenue Service, nor Congress have shared any indication or confirmation to support these claims.
Here is everything you need to know.
Inflation relief checks and ANCHOR property tax relief
Residents living across a number of states, New York included, are sent “inflation relief checks”. This is a one time payment issued to residents as a form of relief since they had paid higher sales taxes due to inflation. The amount any one resident will receive is determined in relation to their income. An individual earning up to $75,000 will receive $200, and a married couple filing jointly with a combined income of up to $150,000 will receive $400.
Other states such as Pennsylvania, Georgia and Colorado, offer residents “rebate checks”. These rebate checks are also a type of inflation refund payment and are paid to property owners and taxpayers in a similar manner. The criteria that needs to be met in order to qualify for this rebate check does, however, differ from that of the aforementioned “inflation relief checks.”
Another form of tax relief that can now be enjoyed by New Jersey residents is the ANCHOR program. “The ANCHOR program offers tax relief to New Jersey property owners and renters that meet specific requirements,” as explained by the New Jersey Division of Taxation. “It offers up to $1,750 for homeowners ages 65 or older, or up to $1,500 for homeowners below 65 and renters age 65 or older may receive up to $700, while renters younger than 65 may be given up to $450.”
A fourth stimulus check — real or fake?
In online spaces such as social media platforms and websites, rumors have been going around of a fourth stimulus check. However, official channels such as Congress, or the IRS have not issued any sort of statement or announcement validating any of these claims. As such, any news related to a fourth stimulus check should be handled with caution and the assumption that it is possibly an attempt of fraud.
Unfortunately for filers, the deadline to claim and file for all of the first three stimulus checks have already passed, with the deadline for the third check passing in April of this year. These three stimulus checks were the result of COVID-19 era stimulus programs and were issued first in March and April 2020, then by Jan. 15, 2021, and lastly between March and December 2021, respectively. The three stimulus checks are outlined as follows:
“The first stimulus check was for up to $1,200 for individuals and $2,400 for married couples, plus $500 per qualifying child under the age of 17. While the second stimulus check was up to $600 per individual, $1,200 for married couples and $600 per qualifying child under 17.”
“The third stimulus check was for $1,400 per eligible individual and married couples filing jointly received an additional $1,400 for each qualifying dependent.”
DOGE checks?
At the beginning of the year when the Department of Government Efficiency (DOGE) was introduced to the federal government, President Donald trump shared the possibility of a $5,000 stimulus check to be issued to taxpayers as the “DOGE Dividend”. Trump explained the stimulus check as “using part of the 20% of the savings identified by Musk’s Department of Government Efficiency (DOGE) and giving it back to taxpayers.”
Since then, however, the issue has not been brought up or elaborated upon, so whether or not these stimulus checks will actually reach taxpayers remains to be revealed. In short, there has been no official communication regarding a fourth stimulus check and taxpayers should practice caution when dealing with related news.