Although authorities have already confirmed that no type of stimulus check is expected for the remainder of the year, Americans are still anticipating the arrival of a check for no less than $2,000. This expectation stems from the proposal made by Trump, which has not yet come to fruition. However, whether this income materializes or any other, it is important to be aware of the most common mistakes people tend to make when receiving significant amounts of money. According to economists and experts, it is important not to spend the money before having it, especially with this check, which does not have the certainty of being issued.
One should stay alert to potential scams, as warned by the IRS and the Better Business Bureau. It is also important to be aware of the taxes that must be paid when receiving stimulus checks, as well as to plan how to spend that amount and not give in to compulsive purchases. One of the most important things is to keep in mind that this income may temporarily affect eligibility for assistance programs like SNAP or Medicaid. And finally, it is important to continue keeping in mind the projected 3% inflation expected for 2026.
Possible stimulus check
While Americans seem to be waiting for the arrival of a final stimulus check in 2025, the truth is that the IRS has already announced that no more checks will be issued before the end of the year. This wait is due to Trump’s statements, in which he promised $2,000 stimulus checks for millions of American families as a result of the benefits obtained from tariffs. However, not only have these benefits not been sufficient to cover such a supposed payment of checks, but if they were approved, it would be for mid-next year, 2026, since it has not even been approved in Congress yet.
Avoid the most common mistakes
In any case, receiving money in this way requires taking certain aspects into account to avoid falling into what economists and specialists have described as the 6 most common mistakes. These tips are applicable to any type of income, not just this stimulus check.
Spending money before having it
Experts recommend avoiding making purchases or going into debt based on a budget you don’t yet have, especially with this $2,000 check. This is because the Supreme Court is reviewing whether it was legal to apply fees to business partners under the International Emergency Economic Powers Act, and if the ruling is unfavorable or Congress does not approve it, the payments would be canceled.
Falling for scams
Both the Internal Revenue Service (IRS) and the Better Business Bureau warn about the increase in fraud when potential stimulus checks are advertised. As of today, there is no official form to apply for this check, and the IRS reminds that it never initiates contact through email or social media.
Not considering tax payments
It is important to remember that receiving an amount of money requires paying taxes. In the event that this stimulus is approved, the IRS will issue an official guide specifying whether the check will be considered taxable income or not.
Non-essential expenses
Experts recommend planning how the money would be used, focusing on immediate needs such as rent, utilities, food, or overdue payments, thus avoiding the temptation to spend it on impulsive purchases.
Impact on social assistance
Another important aspect that is often overlooked is how the $2,000 deposit affects eligibility for programs like SNAP or Medicaid.
Forgetting future inflation
In the event that this stimulus check is approved, payments would be made in mid-2026, by which time analysts project inflation around 3%. This means that the purchasing power of the stimulus will be lower than it is now, which should also be taken into account.
Frequently asked questions
Has the issuance of the $2,000 stimulus check been confirmed yet?
No. Trump claims that this check would be funded with the benefits obtained with the tariffs, but not only have these benefits not been sufficient to cover such a supposed payment of checks, but if they were approved, it would be for mid-next year, 2026, since it has not even been approved in Congress yet.
Can it affect eligibility for social benefits?
Yes, by temporarily increasing the income level. Watch out SNAP and Medicaid beneficiaries.