In the months starting from March 2020, there was a financial aid which was provided by the Federal US Government to help the citizens who needed help. This was a result of the costs which were seen in the months after the COVID 19 pandemic, and it must be noted that these payments had been provided to the US citizens who had mainly not been able to earn more than low or moderate incomes.
These low income and the moderate income families which had seen the financial struggles after the pandemic had become the main reason for this federal support which was provided by the US Government. These support payments had been provided to support the families, and at the same time, help with the boost in the US economy. These payments had become the much needed Stimulus Checks which were paid to the eligible citizens who needed financial help from the government. Starting from the month of March 2020, these Stimulus Checks have been provided with a total amount of over $2500 for every individual who qualified.
Stimulus Checks 2024 Update
The US residents have received their Stimulus Checks starting in 2020, as the pandemic had made it difficult for them to manage the daily living costs in the US states where they lived. To help with this, the first round of Stimulus Check which was sent out in March 2020 was for an amount of about $1200. This was followed by the second Stimulus Check by the US Government, and this check had been made available starting from December 2020 with the amount which was set to be provided as $600 (with an additional $600 for a dependent, if they qualified).
Following these 2 rounds, the Federal US Government had decided to send out another round of Stimulus Payments, and this third Stimulus Check began going out in March 2021 with a maximum amount of $1400 for every eligible individual, and their dependents. There had been several eligibility conditions for the Stimulus Checks, and there have been no payments federally after the third Stimulus Check in the US. Not only that, there have been a good number of US residents who had either not received their Stimulus Checks or they had received incomplete amounts during those years.
IRS Stimulus Check 2024 Overview
|Stimulus Check 1
|Stimulus Check 2
|Stimulus Check 3
|Stimulus Check 4 (in 2024)
Updates on Stimulus Checks Today
Those who have missed getting their Stimulus Checks in the recent years may still claim them in 2023 if they are able to file for the Recovery Rebate Credits. It must be noted that for the 2020 Recovery Rebate Credit, the eligible individuals must file their returns by 17th May 2024. For the 2021 Recovery Rebate Credit, the eligible residents are required to complete filing their tax returns latest by 15th April 2025. This had been the reason for the increased anticipation in the general public which has been waiting for a fourth Stimulus Check for a long time now.
The demand for the Fourth Stimulus Check had been on increase after the three EIPs, and for this reason, there has been a petition which aims at getting a monthly payment of about $2000 for every eligible individual. In an update in July 2022, it was also reported that the petition had received more than 2 million signatures but to no use. As a result, it has been reported that to help with this need of financial support, there are many US States which are coming out with their support packages before the year of 2023 comes to an end.
New Stimulus Check 2024
The last round of federal financial support had been the third EIP which was sent out to the eligible citizens in March 2021, and this is important because in the recent weeks, there have been several posts on the social media which have suggested that the last month of 2023 is going to see another round of financial help from the Federal Government in the US. The posts have also mentioned that if the individual’s account information is with the IRS, then the individual is going to receive the check as Direct Deposit.
But if the individual had received their tax refund for this year as a paper check, then the Fourth Stimulus Check is going to be sent in the mail. In a recent update, it has been announced by the IRS that there is not going to be any payments coming from the Federal US Government in this week or after. This is to say that the social media posts about a Fourth Stimulus Check is false, and the support payments which are going to be sent will be from the specific states only. These states which will come out with their stimulus packages in December 2023 include the likes of Alabama, Florida, Arizona, Georgia, Maryland, Indiana, New York, Vermont, New Mexico, Maine, Missouri, etc.
Where’s My Stimulus Check?
In 2024, there are going to be other support payments which will be available for the US residents including:
- Child Tax Credit: For the tax year in 2023, the CTC provided has been $2000 for every child who qualified for the support, and it must be noted that this support may get an expansion for the year 2024.
- Earned Income Tax Credit: The maximum amount which can be claimed for the year 2023 by the eligible individuals who want their EITC is about a total of $7430.
- American Opportunity Tax Credit: This credit has become useful for those who have spent money on the first 4 years of their qualified higher education, and the credit is a maximum of $2400 for every eligible student.