The Stimulus Checks were a way for the Internal Revenue Service to help people during the pandemic. The first round of payments was $1,200 and the second round was $600. The third round was $1,400. To receive these checks, you need to be a citizen of America or a resident alien, you also need a Social Security number, you can’t be a dependent, and your gross income must be less than a certain limit.

Some people received plus-up payments during the third Economic Impact Payment round. These payments were for those who were entitled to a bigger amount than the one they received after their tax return in 2020. All of these payments were issued by December 31, 2021.

Stimulus checks –

The Stimulus checks were a type of financial assistance provided by the government of the USA to American citizens in order to cope with the Coronavirus crisis. These checks were for the taxpayers by the Internal Revenue Service, which is the American government Revenue Service looking over matters related to taxes in the US. It was even provided to those who don’t file taxes. Some received the money through the checks mailed to them and some through direct bank deposits and as a plus point, the amount was non-taxable too.

The first round of economic payments were issued starting from April 2020 and were $1,200. The second stimulus check started to be distributed in December 2020, for $600. The third recovery rebates were $1,400 and started to be issued in March 2021. ..

The Eligibility For The Stimulus Checks Determined:

The payments were made to people who met certain criteria, including being an American citizen and having a Social Security number. If someone did not meet these requirements, they could still receive the payments by claiming the recovery rebate tax credit.

The government offered a payment to those who could not afford it. There was no minimum income requirement, and you could have no or limited income. However, if your gross income was more than $75,000, the government would reduce the amount of the payment.

Process To Get The Payments: 

If you are receiving benefits from any other government program, such as Railroad Retirement Board, Department of Veterans Affairs, Social Security Administration, or SSDI or SSI payments, you should automatically receive the same payments. You may not even need to do anything if you met all of the above requirements. If additional information was required, you could provide it to them through the IRS portal or through the non-filers portal.

Payment Amounts – 

If your gross income is less than $75,000, for the first round of Economic Impact Payment, you would have received the amount of $12,00 per individual, $24,00 for married couples, $500 for a child below 17, and $3,400 for a family in which the number of members are four. For the second round of payments, the amount was $600 for adults as well as for children. The amount was $1,400 per adult, $2,800 per married couple, and $1,400 for dependents. If your gross income is more than $75,000, you would have not received the full amount and the EIP amount would have been reduced accordingly.

Plus Up Payments And Deadlines – 

The third round of Economic Impact Payments (EIP) was delivered to people on the basis of their tax returns for the year 2019. However, because of COVID crisis, some people’s income was lower in 2020 than it was in 2019. So, they should have received more EIP than what they got as EIP. Plus-up payments were those additional amounts that were added to the EIP amount.

The first round of payments for the 2020-2021 football season were issued on 31 December 2020, and the second round was due to be issued by 15 January 2021. However, on 15 January 2021, it was announced that the third round would not be issued until after the 2020 World Cup.

Conclusion – 

The US government has provided economic assistance to the citizens through three EIPs, more commonly known as stimulus checks. They were $12,00, $600, and $14,00 respectively for each round and even some plus-up payments in the last round. There were no extraordinary criteria for eligibility and all the payments were issued by December 31, 2021.

No, not every American citizen received the plus-up payment.

Income in 2020 was lower than in 2019, but those who received the plus-up payments were not entitled to them.

The stimulus checks were available to individuals with incomes up to $250,000. ..

Your income must be less than $75,000 to receive the full amount of the tax break. It can’t be more than $99,000 to receive the reduced amount.