- The White House has not ruled out pushing for a fourth stimulus check, and some lawmakers are pushing for it.
- However, experts say the fourth check is unlikely in the near future.
- We explain other types of incentives, included in the American Rescue Plan, that you can take advantage of.
Ways to receive money, if the fourth check doesn’t pass. Although the White House has not ruled out pushing a fourth stimulus check and some congressional legislators are pushing for it, another round of payments seems increasingly difficult to materialize.
Meanwhile, despite businesses slowly returning to normal, many US residents still struggle to find financial stability due to the shocks that the pandemic has left on the country’s economy.
Options for receiving money in federal aid
White House press secretary Jen Psaki has indicated that President Joe Biden has focused his attention on roads, bridges and other infrastructure, as well as different forms of stimulus that he believes will be more efficient in the short term, according to to NJ.
So, considering that the fourth check is unlikely to arrive soon, we explain other types of stimuli, included in the American Rescue Plan implemented by Biden, that you can take advantage of:
Third stimulus check may still come to you
While the latest $ 1,400 stimulus check payments began pouring into bank accounts in March, some people have had to wait weeks or months to receive their checks.
This is because the IRS prioritized sending checks to people who had already filed their 2019 or 2020 tax returns, as the agency was able to quickly verify eligibility based on income and also determine where to mail or deposit directly. the check’s.
The IRS said it continues to distribute stimulus checks
Therefore, the IRS said it continues to distribute federal stimulus checks to eligible Americans, with another 2.3 million payments issued last week. Some of those payments include “additional” adjustments for people who received less money than they were entitled to on previous checks, according to CBS.
Among the 2.3 million payments are 900,000 checks sent to people who recently filed a tax return and for whom the tax agency had no prior information to issue the money.
Child tax credit, another chance
The expansion of tributary credit per child grants qualifying families up to $ 3,600 per child. CBS News reported that a total of 36 million families are expected to be eligible to receive these payments.
Families will receive $ 300 for each child under the age of 6 and $ 250 for each child between the ages of 6 and 17, monthly for six months. Previously, the Child Tax Credit was up to $ 2,000 for eligible children up to age 17.
Eligibility criteria
Now, with this stimulus plan, “the maximum of the Child Tax Credit is $ 3,600 for qualifying children under 6 years old and $ 3,000 per child for qualifying children between 6 and 17 years old,” the agency specified.
According to the IRS, “the new maximum credit is available to taxpayers with a modified adjusted gross income (AGI) of $ 75,000 or less for single individuals, $ 112,500 or less for heads of household, and $ 150,000 or less for married couples filing jointly. and for qualified widows and widowers ”.
What if a person earns more than that?
If a person earns more than this amount, they can also receive the aid, although to a lesser extent. “Above these income thresholds, the additional amount above the original credit of $ 2,000, whether it is $ 1,000 or $ 1,600 per child, is reduced by $ 50 for each additional $ 1,000 in modified AGI,” explained the IRS.
Federal Unemployment Bonus: The federal government extended the weekly $ 300 unemployment bonus until Sept. 6, although half of the states have opted out of the measure before the cutoff.
Payment calendar
The federal government announced the payment schedule through the IRS website. It would begin to deliver the checks from next July 15 and so on on the 15th of each month until December.
The next check will arrive on August 13, since 15 falls on Sunday, and the next on September 15, October 15, November 15 and December 15 for a total of six payments, according to the IRS agenda. .
Federal unemployment bond
The federal government extended the weekly unemployment bonus of $ 300 until September 6, although half of the states have opted out of the measure before the cut.
The unemployment benefit has helped people pay bills and buy food while looking for work during the pandemic. However, state lawmakers in several states say the fringe benefit is too expensive and too generous for unemployed people already receiving benefits.
Other services
Along with payments of $ 300, the program includes pandemic unemployment assistance, which applies to concert workers, freelancers, and others who are not normally covered, and pandemic emergency unemployment compensation, which extends state unemployment once that have been exhausted.
The $ 1.9 trillion stimulus package set Labor Day as the official deadline for delivering federal unemployment benefits. But Alaska, Iowa, Mississippi and Missouri cut their federal unemployment benefits on June 12.
States that discontinued unemployment benefits
Alabama, Idaho, Indiana and Nebraska are among the states that discontinued the additional $ 300 on June 19. Arkansas, Florida and Texas are among the states that stopped receiving benefits this weekend.
White House press secretary Jen Psaki recently said that governors have “every right” to stop profits early. President Biden, for his part, recently indicated that he does not plan to extend them beyond early September.
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