Details of the Most Recent Stimulus Check
The most recent stimulus check in the United States was authorized by the American Rescue Plan Act, which was signed into law by President Joe Biden on March 11, 2021. The third round of stimulus payments provided eligible individuals with up to $1,400 per person, including dependents.
The payment was based on an individual’s adjusted gross income (AGI) as reported on their 2019 or 2020 tax return. Single filers with an AGI of up to $75,000 and married couples filing jointly with an AGI of up to $150,000 were eligible for the full payment. The payment amount decreased for individuals with higher AGIs, phasing out completely for single filers earning over $80,000 and joint filers earning over $160,000.
In addition to the direct payment to individuals, the American Rescue Plan Act also extended several other forms of assistance, including an expansion of the Child Tax Credit, additional funding for small businesses and healthcare providers, and increased funding for rental assistance programs.
The Internal Revenue Service (IRS) distributed the third round of stimulus checks in a phased approach, starting with direct deposits to eligible recipients’ bank accounts on March 12, 2021. Paper checks and prepaid debit cards were also mailed to eligible individuals in the weeks following the initial disbursement. The IRS provided an online tool, the “Get My Payment” portal, for individuals to check the status of their payment and confirm eligibility.
Overall, the third round of stimulus checks provided much-needed financial relief to millions of Americans impacted by the COVID-19 pandemic. However, many individuals and families continue to face financial hardship, and there is ongoing debate about the need for additional stimulus measures to support the economy and provide assistance to those in need.
Eligibility Criteria for the Last Stimulus Check
To be eligible for the most recent stimulus check, individuals had to meet certain criteria based on their income and filing status. The payment amount was determined based on an individual’s adjusted gross income (AGI) as reported on their 2019 or 2020 tax return.
Single filers with an AGI of up to $75,000 and married couples filing jointly with an AGI of up to $150,000 were eligible for the full payment of $1,400 per person, including dependents. The payment amount decreased for individuals with higher AGIs, phasing out completely for single filers earning over $80,000 and joint filers earning over $160,000.
In addition to income limits, individuals also had to meet other eligibility requirements to receive the stimulus payment. They had to be a U.S. citizen, permanent resident, or qualifying resident alien with a valid Social Security number. They also could not be claimed as a dependent on someone else’s tax return.
Individuals who received Social Security retirement, disability, survivor, or Supplemental Security Income (SSI) benefits were also eligible for the stimulus payment, as were eligible railroad retirement and Veterans Affairs (VA) beneficiaries.
It’s important to note that eligibility requirements and payment amounts for future stimulus payments could differ from those of the most recent round. As debates continue over the need for additional stimulus measures, it’s important to stay informed about any changes to eligibility criteria and payment amounts.
How to Check the Status of Your Stimulus Payment
If you are eligible for a stimulus payment and have not yet received it, or if you have questions about the status of your payment, there are several ways to check its status.
The easiest way to check the status of your stimulus payment is by using the “Get My Payment” tool provided by the Internal Revenue Service (IRS). This tool allows you to check the status of your payment and confirm eligibility by entering your Social Security number, date of birth, and mailing address.
You can also check the status of your payment by calling the IRS Economic Impact Payment Information Center at 1-800-919-9835. The IRS provides live assistance during certain hours of the day, but wait times may be longer during peak call times.
If you filed a tax return and opted for direct deposit, you can also check the status of your payment by logging into your online tax account. If your payment was sent by mail, you can check the status of the payment by tracking it through the United States Postal Service (USPS) using the tracking number provided by the IRS.
It’s important to note that the IRS updates the status of stimulus payments once per day, so it may take up to 24 hours for any updates to appear in the “Get My Payment” tool or other tracking methods.
If you did not receive a stimulus payment but believe you are eligible, or if you have other questions about stimulus payments, you can contact the IRS directly or consult a tax professional for assistance.
Future Possibilities for Additional Stimulus Checks
As of March 2023, there is no official plan for a new round of stimulus checks in the United States. However, with the ongoing economic impact of the COVID-19 pandemic and ongoing debates about the best ways to support individuals and families in need, it’s possible that additional stimulus measures could be proposed in the future.
Several proposals for additional stimulus measures have been introduced in Congress in recent months, including proposals for direct payments to individuals, expansions of unemployment benefits, and funding for infrastructure projects and small business assistance.
The potential for additional stimulus measures will depend on a range of factors, including the economic outlook, political priorities, and the outcome of ongoing negotiations in Congress. It’s important to stay informed about any proposed stimulus measures and to contact your elected representatives to share your views and concerns.
In the meantime, there are other forms of assistance available for individuals and families impacted by the pandemic. These include expanded unemployment benefits, rental assistance programs, and tax credits for families with children. If you are in need of financial assistance, it’s important to research and explore all available resources to determine which options are best suited to your needs.
Overview of Stimulus Checks in the US
Stimulus checks are a form of financial assistance provided by the United States government to eligible individuals and families during times of economic hardship. These payments are typically disbursed during times of economic recession or crisis, such as the COVID-19 pandemic.
The first round of stimulus payments in the US was authorized by the Coronavirus Aid, Relief, and Economic Security (CARES) Act in March 2020. The CARES Act provided eligible individuals with a one-time payment of up to $1,200, as well as an additional $500 per qualifying dependent child.
In December 2020, a second round of stimulus payments was authorized by the Consolidated Appropriations Act. This round of payments provided eligible individuals with up to $600 per person, including dependents.
The most recent round of stimulus payments was authorized by the American Rescue Plan Act in March 2021. This round of payments provided eligible individuals with up to $1,400 per person, including dependents.
Stimulus payments are typically distributed by the Internal Revenue Service (IRS) through direct deposit, paper checks, or prepaid debit cards. Eligibility criteria for stimulus payments vary by round, but typically include income limits and other requirements.
Stimulus payments are intended to provide financial relief to individuals and families impacted by economic hardship, but they are just one form of assistance available. Other forms of assistance include expanded unemployment benefits, rental assistance programs, and tax credits for families with children. If you are in need of financial assistance, it’s important to research and explore all available resources to determine which options are best suited to your needs.