Tuesday, October 4, 2022

Is A 4th Stimulus Check Coming

Must read

Still Living Paycheck To Paycheck

Report: A fourth stimulus check might be coming

Some top economists have called for more direct aid to Americans. More than 150 economists, including former Obama administration economist Jason Furman, signed a letter last year that argued for “recurring direct stimulus payments, lasting until the economy recovers.”

Although the economy is improving, millions of people continue to suffer from reduced income and have not been able to tap government aid programs, Nasif said. Only 4 in 10 jobless workers actually received unemployment aid, according to a from economist Eliza Forsythe.

Many people never applied for unemployment benefits because they didn’t think they were eligible, while others may have given up due to long waits and other issues.

“You’ll see reports about how the economy is starting to grow, but there are a lot of Americans living paycheck to paycheck, and for a lot of them the government relief programs haven’t been able to help,” said Greg Nasif, political director of Humanity Forward.

Fourth Stimulus Check Is Coming For Christmas If You Live In These States

Tis the season for more stimulus payments. For millions of Americans, a fourth stimulus check is coming soon. But unfortunately, it will not necessarily be coming from the federal government. Even though its been the source of a little more than half a dozen stimulus checks already this year.

No, the originators this time are state governments like Illinois and California. In Illinois, lawmakers have proposed a new stimulus check in the former. And in California, another batch of stimulus checks worth up to $1,100 started going out last week. Of course, weve got all the details below.

More Amazon Deals from BGR

Top Credit Card Wipes Out Interest Into 2023

If you have credit card debt, transferring it to this top balance transfer card secures you a 0% intro APR into 2023! Plus, youll pay no annual fee. Those are just a few reasons why our experts rate this card as a top pick to help get control of your debt. Read The Ascent’s full review for free and apply in just 2 minutes.

You May Like: Third Stimulus Check For Ssi

Th Stimulus Checks Given Out To Teachers

For other states, their fourth stimulus checks are taking on a new lookas teacher bonuses! Its no secret that teachers are the unsung heroes of our communities, and theyve been put through the wringer during the pandemic. To show them the appreciation that they more than deserve, some states are giving teachers a fourth stimulus.

  • Florida

In Florida, teachers will be getting a $1,000 bonusalthough some of the details of who qualifies are up in the air. If youre a teacher in the Sunshine State, check with your district to see if you can get in on this.14

  • Georgia

Georgia is extending the $1,000 bonus to both full-time teachers and administrators. Part-time teachers will still score a bonus of $500, and theres even a plan in place to give a bonus to pre-K teachers.15

  • Michigan

Earlier in 2021, Michigan used a grant to pay bonuses of $500 to its teachers and $250 to school support staff. No word yet on whether theyll give out another bonus, though.16

  • Tennessee

Our very own Tennessee is giving full-time teachers $1,000 and part-time teachers $500 to thank them for their hard work.17

  • Texas

Now, nothing has happened statewide yet, but some districts in the Lone Star State are giving out their own bonuses. Districts are gifting things like 24% raises, a $500 bonus, and even a $2,000 incentive for some teachers to return to the classroom.18

Stimulus Aid That’s Received The Ok

Fourth stimulus check deadline is 2 weeks away: New $1,400 ...

Child tax credit payments for families: A temporary expansion of the child tax credit for 2021 sends qualifying families up to $3,600 for each child — you can calculate your total here. The advance partial payments of up to $300 per dependent, which began this summer, are issued monthly through the end of the year, with a final payment in 2022.

Parents also have the option of deferring the advance monthly checks and instead get their payment in the spring. There is no cap on the total credit amount that a family with multiple children can claim. If the credit is more than what’s owed in taxes, families will receive the excess amount as a tax refund next year. Plus, low-income families can qualify for the maximum credit. Here’s more on child tax credit payment dates and eligibility.

Additional federal stimulus money: The third stimulus payments of up to $1,400 are still going out in batches to those who are eligible through the end of 2021. The IRS is also sending out “plus-up” payments, which is extra money making up the difference between the stimulus amount you already received and the amount you’re eligible to receive .

Also, if an individual in your family becomes a dependent in 2021, such as a newborn or foster child, they could also be eligible for a $1,400 payment. According to the tax agency, for any new qualifying dependents to receive the third payment you’d have to claim a Recovery Rebate Credit on your 2021 tax return that you’ll file in 2022.

You May Like: Irs Sending Letters About Stimulus 2021

Th Stimulus Check Update: Last Payments Of 2021 Coming This Week

From California to West Virginia, states all across the USA are providing financial support to help Americans at this difficult time. Whether through a fourth stimulus check or other benefits, our guide will explain more.

    Stimulus checks have been incredibly helpful for millions of people in the United States of America during the COVID-19 pandemic, but with these payments from federal government having now stopped, state governments are now responsible for providing their citizens with financial aid packages. Many people are left wondering what benefits are on offer where they live, as some states are offering a fourth stimulus check while other states have alternative options.

    The financial support available in the USA goes beyond stimulus checks thanks to tax breaks, extended benefits programs, unemployment benefits increases, Child and Dependent Care Tax Credit and other creative initiatives in certain states.

    Our comprehensive guide of all of the aid available in each of the United States’ 50 states will make life slightly easier, as you’ll be able to quickly see where stimulus checks are being prepared and how much money is being given out. We will also tell you how to qualify and apply for the payments.

    What Happens If You Didn’t Receive Any Money In Advance In 2021

    It’s even more important to file a 2021 income tax return for families who would qualify for the child tax credit but did not receive any advance payments this year.

    It may be possible, if you qualify, that you’d get a lump-sum payment by claiming the child tax credit when you file a 2021 federal income tax return.

    This is an important point, especially for lower-income families or those with no income who normally don’t make enough money to be required to file a federal income tax return.

    You May Like: Irs Wheres My Stimulus Payment

    Th Stimulus Check Update $3000 Boosts For Students Being Sent Out Now As New Year Surprise Cash To Arrive Next Week

    • 12:51 ET, Dec 22 2021

    STUDENTS across America are set to receive stimulus checks worth up to $3,000.

    Almost $40billion worth of pandemic relief was distributed to students and institutions under the Higher Education Emergency Relief Fund as part of President Joe Biden’s American Rescue Plan.

    One student, freshman Lexi Plaisted, received around $800 and said she was surprised by the grant, telling The Hatchet, I honestly did not think I would get anything because Im sure other people have been affected much more than I have, but I thought that it was just worth a shot so I went ahead.

    It comes as final New Year surprise stimulus checks are being sent out next week.

    In Connecticut, Governor Ned Lamont announced the Back to Work program for $1,000 in stimulus checks, starting on May 30, 2021, which will continue until December 31, 2021.

    Read our stimulus check live blog below for the latest news and updates…

    West Virginia Stimulus Checks

    Fourth Stimulus Check Is Coming Right Now | Fourth Stimulus Check Update ~ QUiNTiN BANKS

    In West Virginia, there are more than 7,700 unclaimed stimulus checks, Child Tax Credit and others.

    Want to know more? Find out the latest news about the Arkansas Stimulus

    The question, of course, is whether any of those stimulus checks can be recovered.

    “If you haven’t you need to file one, or you can go to IRS.GOV, ‘Where’s my Stimulus Check?’, and look on there and enter your information and that may be able to help you, but filing a tax return will help and if you don’t have any taxable income you can still file a tax return electronically, and that’s the best way to get one soon,” said John Empson, a Certified Public Accountant.

    Recommended Reading: When Will Green Dot Deposit Stimulus Checks

    Are 4th Stimulus Checks Really Happening

    They arebut theyre not coming from the federal government like the last three stimulus checks did. This time, it all depends on what state you live in. Thats right, these fourth stimulus checks are being given out to some folks at the state and city levels now.

    Back when the American Rescue Plan rolled out, all 50 states as a whole were given $195 billion to help fund their own economic recovery closer to home.1 Thats a lot of dough. But heres the catchthey dont have forever to spend that money. The states have to figure out what to spend the money on by the end of 2024, and then they have until the end of 2026 to use up all that cash.2 Those deadlines might sound super far away, but the clock is ticking here.

    Fourth Stimulus Check Update: Is Another Relief Payment Coming

    Many Americans want regular financial aid until the end of the pandemic

      The third and so far last nation-wide stimulus check in the United States of America saw more than 169 million payments sent out, but there are increasing calls for a fourth stimulus check.

      In fact, some have gone further by arguing that there should be a fourth round of stimulus aid, which would see recurring payments sent out until the COVID-19 pandemic is deeded to have ended.

      There has been $3,200 paid out to eligible adults so far from the US federal government, with $1,200 coming as part of the Coronavirus Aid Relief and Economic Security Act in March 2020 $600 as part of the December relief measure and $1,400 as part of the American Rescue Plan, which was signed in March 2021 by President Joe Biden.

      You May Like: 3rd Stimulus Check For Social Security Recipients

      The Claim: A Fourth Stimulus Payment Worth $2000 Per Person Will Arrive By Memorial Day Weekend

      Millions of Americans are still watching mailboxes and bank accounts for direct payments from the latest COVID-19 relief legislation Congress passed earlier this year.

      President Joe Biden recently sent a mailer to taxpayers about the third round of payments, worth as much as $1,400 per person, that was part of the $1.9 trillion coronavirus relief package Congress passed earlier this year.

      This week, the IRS said it was sending another 1.1 million payments in the form of direct deposits and paper checks.

      But even before the federal government can finish doling out the third wave since the start of the pandemic, discussion is brewing and misinformation circulating about the possibility of a fourth round.

      In that has been shared nearly 250 times, a user wrote that a fourth stimulus payment worth $2,000 per person would be arriving by Memorial Day weekend. A child tax credit of $300 to $500 a month would run from July to December, according to the post.

      The post is wrong on several levels.

      Congress hasnt approved a fourth round of direct payments. And while the IRS will start sending out monthly payments for a larger child tax credit in July to some families, the user has the incorrect amounts.

      The Facebook user who shared the post did not respond to a request for comment.

      No Economic Recovery For Others

      Fourth stimulus check is coming for Christmas if you live ...

      The pandemic has further highlighted the growing imbalance across the broader economy. While many households have financially flourished during COVID, many others have fallen behind where they were in early 2020. Much of the gap depends on whether wage earners could work remotely during the shutdown or had public-facing jobs that required them to be on-site.

      Financial insecurity is still widespread, and the loss of a job and the loss of hours were some of the main reasons over the course of the pandemic. Nine percent of American adults reported a shortage of food in their household over the previous week, according to a Center on Budget and Policy Priorities analysis of U.S. Census survey data from late September and early October. Approximately 16 percent of renters have fallen behind on their rent, including 23 percent of renters with children in their household. The federal eviction moratorium, which ended October 3, didnt forgive rent that was owed, it pushed the debt into the future. And evictions continued in some parts of the country regardless. Meanwhile, only a fraction of the $46 billion Congress allocated for rental assistance has actually made it to tenants and landlords. As of late September, over a quarter of American adults reported some difficulty keeping up with expenses in the prior week.

      Read Also: When Are The Third Stimulus Checks Coming Out

      Is Congress Calling For A Fourth Stimulus Payment

      Discussion on Capitol Hill about issuing additional stimulus payments has quieted since the spring.

      In late March, a group of more than 20 Democratic senators signed a letter to Biden asking for additional aid for Americans. The group recommended recurring direct payments instead of a one-time check.

      This crisis is far from over, and families deserve certainty that they can put food on the table and keep a roof over their heads, the letter said.

      In addition, a group of more than 60 Democratic members of the House of Representatives signed a letter urging Biden to consider further direct payments.

      The letter encouraged an additional relief package that would provide ongoing payments to adults and dependents who need it mostnamely, households with lower incomes. It also requested that further direct payments ensure that eligible households receive funds more quickly than in previous rounds of aid, with better outreach to make sure people are aware of their eligibility.

      But since those calls for action, a couple key events have happened.

      The other element is intense fighting in Congress. The House of Representatives and the Senate have been tasked with adopting a budget, , and determining spending amounts for infrastructure and social program spending.

      But passing legislation in a closely divided Congress has been a struggle, with some decisionslike passing a budget resolution to avoid a government shutdowncoming dangerously close to deadlines.

      More Money Could Be Approved By Congress Soon

      Though there’s plenty we still don’t know and much up for debate, there could be additional cash in the pockets of Americans in the following scenarios:

      If the child tax credit raise is made permanent. Money from the expanded child tax credit started this summer with monthly payments to millions of lower- and middle-income families with children. In a speech this summer, Biden called on Congress to extend the expanded child tax credit through 2025. Some lawmakers and economists are now pushing for the enhanced credit, and House Democrats put forward a proposal to make it permanent, though it is still controversial.

      If there’s a minimum wage hike. Some senators continue to look for ways to boost the federal minimum wage, which stands at $7.25 per hour. A few proponents want to set the bar at a $15 hourly wage, and others are looking to only go up to $11 an hour. In recent years, many states, localities and businesses have implemented minimum wage increases above the federal level. However, the discussion of a new national rate of $15 an hour has hit a roadblock in recent months, and the likelihood of it being enacted anytime soon is low.

      In the meantime, here’s what to know about the tax refunds going out for those who received unemployment benefits in 2020.

      Don’t Miss: Does Everyone Get A Second Stimulus Check

      Qualifying For Recovery Rebate Credit

      Should you qualify for the Recovery Rebate Credit, you are able to claim the child on your 2021 tax return, which will be completed in 2022.

      Those who qualify for an additional payment via the American Rescue Plan will be able to have the credit arrive as part of their 2021 refund.

      In order to qualify, dependents must be under 19 at the end of the year unless they are a student, or any age but are permanently disabled. In addition, the dependent must be a child, brother, sister, foster child, stepbrother, stepsister, half-brother or half-sister, or a descendent of any of them.

      There are some income requirements that must be met to receive the Recovery Rebate Credit payment, though, as taxpayers can receive the full amount if they have an adjusted gross income under $75,000, or an income of $150,000 and are married and filing jointly.

      Is A Fourth Stimulus Check Arriving In 2022

      Will there be a 4th stimulus check? Not likely, but increased child tax credits come next month

      FILE – This May 8, 2008, file photo shows blank checks on an idle press at the Philadelphia Regional Financial Center, which disburses payments on behalf of federal agencies in Philadelphia. AP

      As of right now, there are no plans for a fourth stimulus check in 2022. That doesnt mean efforts for additional financial assistance amid the coronavirus pandemic are done.

      A petition for U.S. adults and $1,000 for children has been signed by 2.97 million people. If it reaches 3 million signatures, the petition will become one of Change.orgs most-signed petitions.

      And while that petition has garnered millions of signatures and widespread attention, it appears unlikely it will move Congress to act. Instead, efforts are underway to extend the expanded Child Tax Credit, a measure passed during Marchs American Rescue Plan. The child tax pays parents up to $300 a month for children ages 5 and younger and $250 per child age 6-17. The remainder of the money up to $1,800 can be claimed when filing 2021 taxes in 2022.

      The payments started in July and are set to end in December unless extended by Congress.

      The $2.2 trillion Build Back Better bill, passed by the House on Nov. 19 and currently before the U. S. Senate would extend the monthly payments through 2022, short of President Joe Bidens proposal to stretch them into 2025.

      That measure faces an uphill battle.

      Who will receive stimulus funds in 2022?

      Also Check: Track My Payment Stimulus Check

      More articles

      Popular Articles