There have been a good number of individuals in the US and in families who have been eligible for the Stimulus Payments in recent years, but these residents have not been able to receive them in full. This is to say that the payment support had been provided to those residents who had completed their tax filings for that year, and this meant that there were many people who were eligible for these support payments but they had either received incomplete packages or they had not received any payments.
This had been one of the most important steps which the Federal US Government had taken to help the individuals and/ or families after the pandemic started, and this is because there have been reasons including the rising costs of basic services/ goods which was seen in every state. The government’s support had been aimed at helping with an economical boost after the COVID 19, and the Stimulus Checks helped the families and the economy at the same time. As of December 2023, there have been three rounds of these Economic Impact Payments or the EIPs, and for now, there is not going to be any upcoming federal payments to help in this week.
$1400 Stimulus Check Account Direct Deposit
As mentioned, the US States and its residents had faced a lot of difficulties after the COVID 19 pandemic had started, and to help with these low income families, it was announced by the Federal US Government that there will be rounds of financial support so these families and/ or individuals in the US can meet their daily expenses without any problems. This is to say that the federal help had been provided by the government after spending billions (over 900 billion) from the funds. This is important because in 2023, there are a good number of eligible US individuals who are still waiting for their Stimulus Check payments.
For these US residents, it must be mentioned that the first round of Stimulus Checks had provided an amount of about $1200 starting in the month of March 2020, and this round was followed by the second round of Stimulus Checks which had been sent out in December 2020 with an amount which had been a total of $600, and an additional $600 for the residents who had dependents. This led the beneficiaries to the third round of these EIPs which was sent out starting from the month of March 2021, and the amount provided to the residents had been a total of $1400. As of 2023, this has now created a lot of anticipation as the US residents in low/ moderate income categories expect another round of Stimulus Check for the year 2023.
$1400 Direct Check Deposit Stimulus Overview
|Made Between March 2020-March 2021
|How to Claim
|Recovery Rebate Credit 2021
$1400 Stimulus Checks Deposit
After the third round of the Federal Stimulus Checks had been over, a lot of residents needed more help from the government, but there was no official announcement for a Fourth Stimulus. To help with this, a lot of states in 2023 had come forward to provide their eligible residents with an additional round of payments before the year ends. This included the names of states (in the US) like Georgia, Arizona, Florida, Alabama, New York, New Mexico, etc. But it must be noted that these State Support Payments are not going to be equal to the Federal Stimulus Check.
These support payments by the State Governments were decided on the basis of the individual’s income, the number of dependents they have in family, and if the individual is eligible for other benefits like the disability benefits (which increase the amount). Not only that, there is also a petition which has been signed by over 2 million people, and it aims to bring back the Stimulus Checks for the eligible US families and/ or individuals. As per a recent announcement made by the IRS in the US, it has been mentioned that all the social media posts which have been suggesting that the month of December 2023 is going to see another round of Federal Stimulus Check in 2023 are false.
2021 IRS Recovery Rebate Credit
The IRS has also announced in the month of November 2023 that all the eligible US residents who have not received their Stimulus Checks in 2020 and 2021, they may be able to claim these amounts by filing their tax returns to get back the Recovery Rebate Credit. For the first and second Stimulus Checks, an individual needs to claim the 2020 Recovery Rebate Credit (last date is 17th May 2024), and those who want $1400 payment of the third stimulus, then they can claim by the use of 2021 Recovery Rebate Credit (last date is 15th April 2025).
This Recovery Rebate Credit is a type of refundable credit, and this can be claimed after the eligibility is met and the federal taxes are filed. For the applicants, it is possible to check the status of their payments by logging into their online accounts by IRS. Also, starting from 2024, there is going to be a 3.2% increase in the benefit amounts which will be paid starting from January 2024. To add to that, the people who receive their SSI, their first increased payment is going to be received starting from 29th December 2023, and this is because the first of next month is going to be a holiday in 2024.