Following the COVID-19 epidemic, Americans were acclimated to the concept of stimulus cheques, also known as Economic Impact Payments (EIPs), which were intended to give relief during the economic crisis.
These payments were made in three installments during 2020 and 2021, but suspicions of a fourth stimulus check were immediately dispelled by the Internal Revenue Service.
While no new federal stimulus payments for COVID-19 are scheduled, individuals who missed out on prior rounds of stimulus cheques can still claim them if they qualify.
Although federal COVID-related stimulus checks are no longer being delivered, states and the IRS offer various assistance programs to help residents manage inflation and economic issues.
These newer payments are frequently referred to as “stimulus checks” because the term became so popular during the pandemic. However, it is important to emphasize that these relief efforts differ from the federal stimulus cheques issued in 2020 and 2021.
The $8.700 Stimulus Check Scam
During the summer, the internet was flooded with searches for “IRS $8700 stimulus check IRS gov,” causing many to believe that the IRS was issuing new stimulus checks of $8,700. However, this allegation proved to be untrue. Despite great online curiosity, no official reports or trustworthy news sources have confirmed the existence of such a payment.
Robert Marvin, an IRS spokeswoman, stated in a news release dated July 2023 that scammers claiming new stimulus cheques or government assistance payments are on the upswing.
These scams, which frequently involve phone calls or emails that appear authentic, attempt to dupe consumers into believing they are qualified for additional stimulus funds related to the epidemic era.
It’s unknown why the $8,700 stimulus check hoax spread, but it’s similar to previous fraudulent scams that promised “free money” to victims. Scammers use sites such as Facebook, Instagram, and YouTube to push phony advertising stating that the IRS, Congress, or the President has approved fresh stimulus payments or financial incentives.
Reference: IRS 8700 Stimulus Payment: What to know about this payment trending on the internet?
