With the start of tax season in 2025, the IRS (Internal Revenue Service) is already sending out new stimulus checks to eligible US citizens via tax refunds. Whether or not you receive this check depends on a number of factors, but it is clear that if your income level is low, chances are you will receive this type of payment every year.
What is a Tax Refund?
A tax refund is basically a refund of our overpaid tax amount. If we send in our tax return on time and the IRS deems it correct, we can receive some amount of tax already paid or sometimes even the full amount. However, it is important to fulfill these responsibilities whether we receive a tax refund or not.
Are Social Security benefits taxed?
It is important to remember that Social Security benefits are generally so low that they are not taxed. Apart from this, the IRS has some special tax rules, which are different and special for certain groups and retired individuals.
Will I get an IRS stimulus check in 2025?
This will completely depend on our total annual income. There is a certain income limit for every American group. If we earn more than that limit, we will be required to send our tax return to the IRS. If our income is less than that limit, we are not required to send a tax return, although we can still avail it.
What is the income limit?
Here are the details of the categories and income limits based on which it will be mandatory to send a tax return if you are below 65 years of age:
- If you are single, you have to send a tax return if your income is $14,600 or more.
- If you are the Head of Household, the limit is $21,900.
- If you file a tax return as a couple:
- The limit is $29,200 for both if both are under 65.
- If only one person is under 65, the limit is $30,750.
- If you are filing separate tax returns but are married, the limit is $5 (this is a special case).
- If you are a surviving spouse, the limit is $29,200.
Keep in mind that we are talking about total annual income here. Filing a tax return is mandatory at these income levels, but despite this, you may be likely to receive a tax refund from the IRS. However, in these cases it is not necessary that you receive a stimulus check, so you should not base your financial plans on this check.
Should we rely on a stimulus check?
Filing a tax return is mandatory at these limits, but it is also possible that we may receive a tax refund from the IRS. However, it is important to note that you should not take this check as a surety while doing any kind of financial planning. Sometimes we may not get this amount, so it would not be right to depend on it.
Conclusion:
If you have any doubts about whether you will get a stimulus check from the IRS or not, it is better to seek help from an expert. They can help you and ensure that you can send your tax returns correctly and find out whether you can receive a stimulus check directly from the IRS or not.
So, be careful while filing tax returns and make sure that you are following all the rules so that you do not miss out on any kind of benefit.
FAQs
Q. What is a Tax Refund?
A. A Tax Refund is the return of taxes we have overpaid to the IRS, which can be received after filing a Tax Return.
Q. Who is eligible for a Stimulus Check in 2025?
A. Eligibility depends on your gross annual income. If your income is below certain limits, you may receive a stimulus check.
Q. Do Social Security benefits get taxed?
A. Social Security benefits are usually low enough not to be taxed, depending on your total income.
Q. What is the minimum income to file a Tax Return if under 65?
A. If you are single, you must file if your income is $14,600 or more. The limits vary for other categories like head of household or married couples.
Q. Should I rely on the Stimulus Check for my financial planning?
A. It’s best not to rely solely on the stimulus check for your financial planning as you might not receive it every year.