As 2024 comes to a close, many people are seeing and hearing talk about an $800 stimulus check that could be on the way. According to stories shared on social media and several online articles, this stimulus check is likely intended to help low-income people and seniors, and provide some relief in the fight against the rising cost of living.

These rumors suggest that this payment will be distributed soon. However, before people start planning for this potential payment, it’s important to take a close look at what’s true and what’s not. While this rumor sounds hopeful for those in need, there are reasons to doubt its reliability. Currently, no credible government sources have confirmed this information.

This article explains what we know so far, addresses some common myths about these rumored stimulus checks, and provides background on how these programs typically work.

No official announcement

The first and most important fact is that there has been no official announcement of an $800 stimulus check. Nor the Internal Revenue Service (IRS) nor the Ministry of Finance– the two main government agencies responsible for stimulus payments – has confirmed all details about such a payment. So far, no government agency has discussed the approval process, eligibility criteria, or distribution plan for a new stimulus check.

Furthermore, major media outlets such as CNN, Fox News and others did not report on the rumor check. In the past, every major stimulus plan was reported by major news sources. Given all this, the lack of any confirmed information from these trusted media sources suggests that the rumors lack a solid basis.

Where did the rumors come from?

These rumors seem to have started on social media and on some websites where stories can spread quickly even if they are not based on facts. It is common for websites to post exciting or sensational headlines to attract readers, even if the stories are not entirely accurate. This type of misleading information often appears during times of economic uncertainty, when many people are already concerned about their finances.

Common myths about the $800 stimulus check

Several myths are being shared about the $800 stimulus check. These claims give the impression that the payment will happen soon, but there is no evidence to support it. Here are some common myths about this check, along with explanations as to why they are unreliable:

Help for low-income people and seniors

One of the most popular claims is that the $800 stimulus check will be targeted at people on fixed incomes, such as seniors and individuals in vulnerable financial situations. It’s true that previous stimulus programs have often targeted these groups, but no government agency has confirmed plans for such a payment this time.

Release date in November 2024

Another rumor states that the checks will be distributed in November 2024. However, this claim is completely incorrect. The process for approving an incentive program is lengthy. Such programs must be approved by Congress and supported by federal entities such as the IRS or the Treasury Department. This process hasn’t even started yet, so the idea of ​​a November release date has no basis in fact.

Payment methods: direct deposit or paper check

Some reports suggest that eligible people will receive the $800 payment via direct deposit or a paper check sent in the mail. While these were common methods in previous stimulus programs, this claim has no basis as the existence of the $800 stimulus check program itself has not been verified.

Income requirements for eligibility

Another rumor is that the program will have certain income limits, similar to previous stimulus programs. Some reports claim that people who earn up to $75,000 individually or earn $150,000 as a couple are eligible. These numbers are similar to the requirements for previous programs, but no official source has confirmed the income limits for the alleged $800 check.

Understanding incentive programs in the US

To understand the truth about this rumored payment, it’s helpful to look back at how previous stimulus programs have worked. During the COVID-19 pandemic, the U.S. government issued three rounds of stimulus payments to help Americans through an economic crisis. These payments were intended to provide financial relief during a difficult period, but also created expectations for similar assistance when the economy was struggling.

In 2024, many people are still facing high costs of living due to inflation, and it is natural that some would hope for more financial support from the government. However, creating a new incentive program is not an easy process. Approval is required Congress and a formal signature from the President. So far, no action has been taken by Congress or the president to approve another stimulus check this year.

The truth about the $800 stimulus check

When it comes to financial aid programs, people must rely on official announcements from government agencies or trusted media. Believing or sharing unconfirmed information can lead to unnecessary confusion or disappointment.