US Inflation Relief: IRS to Send $1,390 Direct Deposits to Struggling Families - Here's How and When
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As the US grapples with rising inflation, millions of Americans are set to receive a much-needed financial boost from the Internal Revenue Service (IRS). The agency plans to disburse $1,390 direct deposits to eligible households, aiming to alleviate the burden of price increases and provide short-term financial stability. The new relief program, part of the US government's strategy to mitigate the effects of inflation, targets individuals most impacted by price hikes. Eligibility is based on annual income, tax status, and credits claimed on the 2024 tax return. Those eligible include single filers with annual incomes below $75,000, joint filers (married couples) with combined incomes below $150,000, and Social Security beneficiaries. Automatic deposits will be made into their bank accounts, with no need for paper checks or lengthy wait times. The IRS aims to transfer funds swiftly and safely using digital payment mechanisms and its existing taxpayer database. Payments are expected to start in November 2025, with all funds disbursed by mid-November. To check payment updates, individuals can visit the IRS's official website and use the 'Get My Payment' or 'Where's My Refund?' tools. It's essential to update bank account and personal information to prevent payment delays. This targeted relief effort is designed to provide both short-term assistance and a foundation for long-term financial security. By leveraging the Social Security and tax systems, the IRS aims to minimize fraud and ensure a quicker, safer process. Key details: - Eligible households will receive $1,390 direct deposits - Payments will be made automatically, with no need for paper checks - Eligibility is based on annual income, tax status, and credits claimed on the 2024 tax return - Payments will start in November 2025, with all funds disbursed by mid-November - Individuals can check payment updates on the IRS's official website
