Update on the Fourth Stimulus Check: Why Are More $1,400 Checks Being Sent, and Who Is Eligible?
Calls for a fourth stimulus check are unlikely to be answered anytime soon, but there is good news for those who never received a third Economic Impact Payment: the IRS has now handed out 2.2 million additional $1,400 cheques.
The fresh reimbursements were given out to those who were entitled for the check but did not receive it earlier since the IRS had information on file for them, according to CNBC. Those 1.3 million payments, totaling $2.6 billion, were made to those who had just filed a tax return, allowing the IRS to seek them down and send them the money.
Supplemental payments, sometimes known as “plus-up” payments, were made to persons who had already received initial payments based on their 2019 tax returns but were now eligible for more money after filing their 2020 forms.
These announcements follow the first disbursements of the Expanded Child Tax Credit to qualified parents. Those payments, which will be made monthly until December, will see $300 placed per child under the age of six and $250 deposited for child aged six to seventeen. During this time, the credit will only net $1,800 in payments, and parents will be able to claim the rest on their 2021 taxes.
There have been calls to make the payments permanent, and while that has not been authorized, the Biden Administration does wish to try to extend the credits until 2025.
Additionally, teachers in some districts and states may be eligible for additional pay as schools decide how to spend the $190 billion in stimulus monies that have been distributed to them. While not every district or state has authorized the funding for teachers and other school employees, some have approved $1,000 “thank you” bonuses for the work instructors did to adapt during the COVID-19 Pandemic.
Americans are still hoping for a fourth stimulus check or some other sort of cash to help them get back on their feet. A petition for more money has gained traction online, asking for $2,000 in automatic monthly payments if specific economic criteria are met. There are currently 2.6 million signatures on the petition.