Some consumers are still unsure whether a new stimulus check will arrive in June, spurred by social media speculations. However, there are currently no confirmed plans for a new federal payment of this type. Let us clarify how things really stand.
The problem with the prior checks is now resolved. The request time for those payments has long since closed. I’m referring to the first check from 2020, the second one issued before January 2021, and the third in 2021. These trains have already gone.
The deadline for the final stimulus check has passed. What possibilities remain?
The last crucial deadline was April 15, 2025. That was the time to claim the third payment, $1,400 for the 2021 Recovery Rebate Credit. Not even a tax extension could help you; your 2021 return had to be filed by that date. If you didn’t, the money now belongs to the United States Treasury. There is no going back, and no appeals are available.
You’ve probably seen the rumors on social media or other places. They are discussing a $2,000 fourth stimulus check. That seems good, right? However, neither Congress nor the IRS have verified or accepted that concept. You must exercise extreme caution while dealing with this news.
It could just be misinformation, or worse, a fraud effort. Do not get your hopes up just yet.
So what happened to Donald Trump’s DOGE dividends?
Another topic had been circulating for several months. There was a lot of discussion regarding alleged “DOGE stimulus checks” or “DOGE dividends.” The concept was inspired by the Department of Government Efficiency’s purported savings. It was stated that they could repay up to $5,000 per taxpayer. Trump stated this in February.
Where did this entire disaster come from? According to reports, James Fishback, the head of Azoria Investments, proposed the idea in February. He named it the “DOGE dividend.” Essentially, he proposed a tax return funded by a portion of the savings that this department would presumably achieve.
Musk, for his part, said something like, “I’ll check with the President.” But be cautious; this was only a proposal.
The Department of Government Efficiency has a webpage where they display their “Wall of Receipts.” They claim to have saved approximately $175 billion, or $1,087 per taxpayer. The issue is that they have only clearly detailed around $70 billion. This leads many individuals to question the total figure. Where’s the rest? It’s not really clear.
But here’s the kicker: Elon Musk revealed a few days earlier that he was leaving DOGE. He stated that he will focus on his other enterprises. This effectively eliminates the entire concept of “DOGE Dividends”.
Fishback’s proposal, which relied on Musk and that department, failed due to a lack of leadership, and Musk and Trump now appear to be at war, with the two business magnates exchanging criticism.
Real possibilities now that stimulus checks aren’t coming back
Understand: the previous check deadlines have past, and there will be no additional federal stimulus. So, what can Americans in need of a financial break do? Well, not all is lost. There are options to consider, particularly at the state or local level. They can be a significant help in getting out of an economic downturn.
Guaranteed Income Programs are one concrete alternative. These differ from one-time stimulation checks. GIPs provide regular, monthly payments over a specified time period. This term can be 6 months, a year, or even two years, depending on the curriculum.
The Magnolia Mother’s Trust in Jackson, Mississippi, serves as a physical example. This program provides $1,000 per month for a whole year. It is primarily focused at low-income Black mothers. In addition to money, it provides help in the form of college savings for children and mental health services. You may get additional information on their website. It’s worth investigating whether there’s anything similar in your state or county.
In addition to researching guaranteed income programs, do not underestimate the importance of state tax refunds. Reviewing what refunds or credits you may be eligible for can put more money in your pocket. It is money you have previously paid, which may be returned to you if you qualify.
The TABOR refund is a large payout made to qualifying Colorado residents. They can increase to $565 for single taxpayers and $1,130 for joint filers in tax year 2024. The Colorado Department of Revenue’s Tax Division makes it clear that you must claim the state sales tax refund when you file your state income tax return or PTC (Own/Rent/Heat) application.
If you have already claimed a state tax refund for 2024, your TABOR refund will be mailed to you alongside that refund. In earlier years, excess amounts were returned in different ways, such as reduced income tax rates or cash refunds (although the latter is no longer applicable in 2024). All official information is available here. Check to determine if your state uses similar procedures.