Stimulus Check: cash payments to help needy families
The stimulus check can provide a financial support of up to $1,400 per adult. Don't wait any longer to get the money you need! Read on for more!
Stimulus Check: Enjoy up to $1,400 per adult
Have you recently heard about the third stimulus check? The new U.S. financial aid plan has made news headlines and is a great way to get back some of your money.
Learn everything you need to know about stimulus checks. How to apply, what the requirements are, and how to get your money as soon as possible! Discover in the next lines!
What is the Stimulus Check and who is it for?
Stimulus Checks are U.S. Federal Government aid plans developed to bring economic relief to American taxpayers during hard times in specific situations.
Stimulus checks have been used in the recent American story since 2008, during the severe recession after the financial crisis. It relieved people along with Social Security and other benefits.
Recently due to the COVID-19 pandemic events, the federal government released once more, Stimulus Check. The first approved payments were in March 2020, followed by another in December.
In March 2021, the American Rescue Plan Act was signed in, including direct payments for both individuals or married.
Furthermore, you must know that just like other government assistance, Stimulus Chek has its specifications and eligibility requirements.
Who is eligible for Stimulus Check?
Like the first and second Stimulus checks, the third has eligibility details. But if you want to know if you’re eligible, we bring the main requirements next.
First, like the past release, no minimum income is needed to qualify for the payments. However, the maximum amount varies with the adjusted gross income (AGI) of applicants.
Filing individuals with AGI up to $75,000 or heads of household with AGI up to $112,500 can receive the full amount!
The criteria include that applicants must have a Social Security Number and American citizenship. Nevertheless, you cannot be someone dependent on a tax return if you want to qualify.
What are the benefits of the Stimulus Check?
The benefits of the third Stimulus Checks are given as payments for those applicants who filed a 2019 or 2020 tax return. The amount can go up to $1,400 per adult and dependent.
Furthermore, some states have their politics to give the stimulus! The list counts 19 states, including California, Alaska, Florida, New Mexico, and more.
Although most states have already provided the benefit, some still have a schedule of payments to be made in 2023.
Don’t lose the chance to check the website of your state’s Department of Revenue and confirm if you were eligible and your possible receipts.
It still is possible to claim any not given benefit or wrong values in some cases.
How can you check the status of your Stimulus Check?
There was a Get My Payment tool available through the IRS. However, it is no longer workable.
Furthermore, although most eligible people have already received their payments, there is still an option for those missing stimulus payments.
You must log in to your IRS account to check the payments issued to you and other information about your taxes.
Further, there is still time to claim the 2021 Recovery Rebate Credit. You can also require yours through the IRS website.
How can you apply for the Stimulus Check?
You automatically apply for Stimulus Check by filing an annual tax return. For those who made their normal yearly declaration in 2019 and 2020. But there is more!
If you want to discover more details on how to track your payments and the application, see our next post!
About the author / Luis Felipe Regueira
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