- Main event: IRS confirms no new $1,390 checks.
- IRS refutes widespread rumors on social media.
- No legislative action taken to authorize payments.
Rumors about a $1,390 IRS stimulus check have been debunked by official IRS statements, stating no such payments will be issued in 2025.
No impact on crypto markets due to absent legislation, leaving social media claims unfounded.
IRS Confirms No $1,390 Stimulus Checks
The IRS has issued a clarifying statement addressing rumors about $1,390 stimulus checks. These rumors have circulated widely on social media, despite there being no current Congressional legislation to authorize such payments. As a spokesperson from the IRS mentioned to NBC Chicago, “There is no recovery rebate credit for taxpayers to claim since no formal legislation in this matter has been passed by Congress”.
The IRS, the central agency in this matter, has announced that there are no new stimulus checks anticipated. Key entities like the US Treasury and Congress have not enacted any related measures source.
The announcement has dispelled misinformation affecting taxpayer expectations but has had no impact on cryptocurrency markets. The lack of federal stimulus funding means no direct financial effect on these sectors. Despite past precedents, an expert analyst noted, “there is currently no active legislation or IRS disbursement affecting cryptocurrency markets.”
No financial appropriations have been designated for such checks, leaving taxpayers without forthcoming additional payments. Past stimulus programs were authorized through acts of Congress, unlike the current situation.
Social media ultimately propelled rumors of $1,390 checks, prompting IRS intervention. Congress has passed no legislation to allocate these funds, confirming that stimulus prospects remain inactive.
Observers note the absence of typical economic influence associated with stimulus programs. Previous checks impacted sectors like retail and crypto, but no similar activity is present now due to legislative inactivity.
