There have been many challenging times in history when people were forced to deal with unexpected problems. In the past two years, the COVID-19 pandemic has caused one of the biggest crises in modern times. Many households have suffered a financial blow, that has impacted the economy in the USA. To help people and businesses recover from the crises, the government issued the Economic Impact Plan.
In this plan, eligible US residents are to receive stimulus checks in several rounds. If you did not get your stimulus check, or you need more information about the plan, continue reading.
What is a stimulus check?
A stimulus check is a check that is given to taxpayers, by the government. Such checks were distributed in the Economic Impact Payment plan in order to infuse cash into the market. Once people received spending money, they were able to purchase goods and surfaces, thus allowing businesses to survive the COVID-19 crisis.
The plan includes several rounds of stimulus check payouts, as follows:
First stimulus check
The first stimulus check was sent in 2020. The total sum of the check was no more than $1,200 per person. Also, an additional $500 stimulus check was sent, per dependent. Those who were eligible for the check were people with an annual income of $75,000 or less, or joint filers with an annual income of $150,000 or less.
Second stimulus check
The second check was also issued in 2020. Eligibility for the check was an annual income of $75,000 or less, or joint filers with an annual income of $150,000 or less. The checks were for a sum of up to $600 per person, and an extra $600 per every qualified dependent.
Third stimulus check
The third round of checks was sent on March 2021. Eligibility for the check was an annual income of $75,000 or less, or joint filers with an annual income of $150,000 or less. The checks were for the sum of no more than $1,400 per person, and no more than $2,800 for joint filers.
Is there a fourth check?
There is a general plan to begin a fourth round of stimulus checks. However, as of now, there is no clear date or sum of money to be sent in the fourth round. If you have not received a stimulus check in one of the rounds, or you have received less money than you should have, you can check the matter with the IRS.
You can also check if there are missing checks in your name, in your state department of unclaimed money. There you will be able to see if you are entitled to cash, and claim the relief funds that you deserve. For more information about the national relief plan, go to stimuluscheck.io.
