Stimulus 2023: Will Americans get more checks next year?

Americans suffered a lot due to the prolonged covid pandemic. Two years of enforced lockdowns due to the pandemic, followed by the sanctions inflicted on Russian oil imports, indicated a cost-of-living crisis.

While the Federal Reserve has slowly increased interest rates to stimulate the rapidly increasing inflation rate, citizens still rely on a host of state-executed welfare measures, either through stimulus checks or tax rebates.

However, with 2023 fast approaching, the department of Internal Revenue Services (IRS) has declared that they will not be issuing any further stimulus checks from their end, suggesting 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.”