Trump’s $1702 Stimulus Payment Coming Soon: Is it true? Expert Insights, Dates & How to Claim?

As 2024 nears its end, rumors about a $1702 federal stimulus payment in December have been circulating online. While many taxpayers hope for financial relief, it’s essential to separate fact from fiction. This article provides clarity about these claims, outlines the recovery rebate program, and highlights state-level assistance programs.

Federal Stimulus Payments: Separating Rumors from Reality

The claims of a $1702 federal stimulus payment in December 2024 are unfounded. The IRS has not announced any new federal-level stimulus payments for 2024. Instead, individuals can still claim pending payments under the Recovery Rebate Credit Program, which allows taxpayers to recover missed payments from the 2021 stimulus disbursements. The recovery rebate applies solely to payments from the Coronavirus Aid, Relief, and Economic Security (CARES) Act and subsequent relief measures. While these payments were critical in mitigating financial hardship during the pandemic, they are not new payouts for 2024. Individuals who failed to claim their 2021 payments can still receive up to $1400 by applying for the rebate credit. However, no program exists at the federal level to provide the rumored $1702.

A Brief History of Federal Stimulus Payments

Since 2020, the U.S. government has issued three rounds of federal stimulus payments:

1. First Stimulus (CARES Act, March 2020):
   • $1,200 per eligible adult and $500 per child.
   • Targeted individuals earning up to $75,000 annually ($150,000 for joint filers).
2. Second Stimulus (Consolidated Appropriations Act, December 2020):
   • $600 per adult and $600 per qualifying child.
   • Distributed during late 2020 and early 2021.
3. Third Stimulus (American Rescue Plan Act, March 2021):
   • $1,400 per eligible adult and dependent, including older dependents like college students.
   • Maintained income caps of $75,000 for individuals and $150,000 for joint filers.

While these payments addressed critical needs during the pandemic, no additional federal payments have been announced for 2024.

State-Level Assistance Programs in 2024

Although federal stimulus payments are no longer active, several states have initiated their financial assistance programs:

• California: The Middle-Class Tax Refund provides one-time payments ranging from $200 to $1,050, depending on income and family size.
• New York: Emergency Rental Assistance supports low-income households at risk of eviction.
• Georgia: A One-Time Tax Refund of $250 for individuals and $500 for families helps alleviate financial pressures.
• Colorado: Energy Assistance programs provide aid for winter utility costs to low-income residents.

Each state has unique eligibility criteria, and residents are encouraged to check their local government websites for details.

While rumors persist about a $1702 stimulus payment in December 2024, no federal program supports such claims. Taxpayers can still claim unpaid 2021 stimulus amounts through the Recovery Rebate Credit. For additional support, state-level programs offer targeted relief tailored to residents’ needs. Staying informed and relying on official sources like the IRS ensures financial security without falling victim to misinformation.