SAM
Actualizado
There's no doubt that 2022 was a difficult year for residents across the United States of America. Two years of enforced lockdowns due to the pandemic, followed by the sanctions imposed on Russian oil imports meant a cost of living crisis.
While the Federal Reserve has gradually increased interest rates to stimy the rapidly growing inflation rate, residents were also still relying on a host of state executed welfare measures, either through the form of stimulus checks or tax rebates.
However, with 2023 fast approaching, the department of Internal Revenue Services (IRS) has stated that they will not be issuing any further stimulus checks from their end, meaning that American citizens across the country should be braced for a tough financial year ahead.
What did the IRS say about 2023 stimulus checks?
With people starting to wonder what support might be coming their way for 2023, the IRS sent out a bulletin on November 22, 2022, addressing the impact of the absence of stimulus checks on the current tax year.
"Refunds may be smaller in 2023," the memo stated.
"Taxpayers will not receive an additional stimulus payment with a 2023 tax refund because there were no Economic Impact Payments for 2022."
What does the IRS' statement mean for you?
The memo from the IRS clearly indicates that residents should not depend on tax rebates to help them procure basic necessities such as groceries.
With COVID-19 now firmly behind us, the absence of stimulus checks will be a problem going forward, while families will also no longer have the expanded benefits of welfare schemes such as parent/Child Tax Credit, that was available in 2021.
This time last year, those who hadn't claimed such benefits already were able to do so when filing their tax returns, but it won't be the same this time around.
