Since last year inflation has taken a toll on the lives of America. And it has been a difficult year for everyone. The majority were hoping for further, highly unlikely stimulus checks. Even if it does the amount will only be satisfying. Some already have lost their homes and meeting ends has been challenging.
No Further Stimulus Checks Will Be Provided
IRS has already declared that no further relief checks are on the way. The last stimulus check was issued in march 2021 that has helped billions of people who have lost their jobs and homes during the pandemic. However, inflation came just after the first lockdown, and the federal government increased the interest rate which mainly caused the inflation.
To rescue Americans from debts and homelessness on a larger scale, the government started giving out stimulus checks to worthy candidates and tax rebates to all the taxpayers of 2020 and 2021.
IRS has warned Americans numerous times not to hope for further stimulus checks to arrive and one must not depend on that. And 2023 is going to be a tough financial year. And even if arrives this year’s tax rebate the amount will be less and may or may not help out those families or individuals who are looking forward to it.
Along with relief checks, the tax return and child credit taxes will be no longer available to claim. As previously announced by the IRS there won’t be further stimulus checks cause the economy has gained properly in the states with increased employment rates. Covid 19 once shook the economy of the whole world, which is behind now but many families got helped through these stimulus checks so for the lower-income families the pandemic was a blessing in disguise to boost their financial status.