Is IRS Planning To Send More Stimulus Checks in 2023?
The year 2022 was a challenging year for citizens and residents all over the United States. A crisis in living costs resulted from the pandemic’s forced and mandatory lockdowns for two years and the sanctions imposed on Russian oil imports.
According to a published post by Marca, residents of the United States were still dependent on a variety of state-executed health and welfare measures, like stimulus checks or tax rebates, even the Federal Reserve’s gradual increase of interest rates to slow inflation.
Although, the Internal Revenue Service (IRS) has declared and agreed that they will not be issuing any extra stimulus checks in the year 2023. This means that United States residents should prepare for a challenging financial year.
What was the IRS’s say on the stimulus checks for 2023?
On November 22, 2022, the Internal Revenue Service (IRS) delivered a bulletin to speak to the impact of the absence of stimulus checks on the current tax year, as people begin to wonder what support and provision might be coming in 2023.
The Memo Declared And Stated That “Refunds may be smaller in 2023.”
What does the announcement from the IRS mean to you? People of the United States should not depend on tax rebates to purchase and buy groceries or other necessities and supplies, as the IRS memo makes clear.
Since COVID-19 is over now, there won’t be any stimulus checks in the upcoming future, and people won’t be able to take advantage and benefit from the extended assistance and welfare programs similar to the parent-child tax credit, which were accessible in 2021.
When it was time to file their tax returns last year, individuals who had not yet applied for such benefits were able to do so; but, the situation and condition will not be the same this time around.
