Unveiling the Second Stimulus Check- Just How Much Relief Did Americans Receive-
How Much Was the Second Stimulus Check?
The COVID-19 pandemic has had a profound impact on the global economy, leading governments around the world to implement various stimulus measures to mitigate the economic downturn. In the United States, the government introduced the Economic Impact Payment (EIP), commonly known as the stimulus check, to provide financial relief to American citizens. This article will focus on the second stimulus check, detailing how much was provided to eligible recipients.
Background on the Second Stimulus Check
The first stimulus check was distributed in April 2020, providing $1,200 to eligible individuals and $2,400 for married couples filing jointly, with an additional $500 for each qualifying child. However, as the pandemic continued to unfold, it became evident that further financial support was needed to sustain the struggling economy.
On December 27, 2020, President Donald Trump signed the Consolidated Appropriations Act, 2021, which authorized a second stimulus check. This legislation provided an additional $600 to eligible individuals, making the total amount of the second stimulus check $1,800 for most individuals and $2,400 for married couples filing jointly, along with an additional $600 for each qualifying child.
Eligibility for the Second Stimulus Check
Similar to the first stimulus check, eligibility for the second stimulus check was based on several factors. Individuals had to have a Social Security number and be a U.S. citizen or resident alien. For individuals, the income limit was $75,000 for single filers, $112,500 for heads of household, and $150,000 for married couples filing jointly. Recipients with income above these thresholds were eligible for a reduced payment or no payment at all.
Additionally, eligible individuals had to have a valid filing status, which included filing as single, married filing jointly, married filing separately, head of household, or qualifying widow(er) with a dependent child. Non-filers, such as those who did not file a tax return in 2019 or 2020, were also eligible for the second stimulus check if they had qualifying children and met the income requirements.
Disbursement of the Second Stimulus Check
The disbursement of the second stimulus check began on December 28, 2020, and continued through January 2021. The IRS used the information from taxpayers’ 2019 or 2020 tax returns to determine eligibility and the amount of the payment. For those who had not filed a tax return, the IRS used information from the Social Security Administration, Railroad Retirement Board, or Veterans Affairs.
The majority of eligible recipients received their second stimulus check through direct deposit, while others received a paper check or a prepaid debit card. The IRS also made efforts to reach out to individuals who were not automatically eligible but may have qualified for the payment based on their tax returns or other information.
Conclusion
The second stimulus check, providing an additional $600 to eligible individuals, aimed to provide further financial relief during the ongoing COVID-19 pandemic. With the disbursement of the second stimulus check, the total amount of financial support provided by the government reached nearly $2,400 for most individuals and $2,800 for married couples filing jointly with qualifying children. As the pandemic continues to evolve, governments around the world will need to continue monitoring the economic situation and consider additional measures to support their citizens.
