India, Aug. 21 -- The Internal Revenue Service (IRS) has issued a formal explanation regarding a rumor being circulated, which claims that the US government has agreed to issue $1,390 stimulus checks to low-income and middle-income taxpayers by the end of this summer.

As per an IRS spokesperson's official statement to NBC Chicago, "There is no recovery rebate credit for taxpayers to claim" since no formal legislation in this matter has been passed by Congress. Many officials instead believe that this confusion might have to do with mistaking the recovery rebate credit on 2021 tax returns as additional stimulus payments.

The first stimulus payment was issued in March and April 2020, followed by a second payment issued on January 15, 2021...