Does everyone get a stimulus check? This is a question that has been on the minds of many Americans as the country continues to navigate the economic impacts of the COVID-19 pandemic. With multiple rounds of stimulus checks being distributed, it’s important to understand who qualifies and how the process works.
The first round of stimulus checks, known as the CARES Act, was passed in March 2020. This act provided eligible individuals with a direct payment of up to $1,200, along with an additional $500 for each qualifying child. The criteria for receiving this payment were based on income, with individuals earning up to $75,000 ($150,000 for married couples filing jointly) eligible to receive the full amount. However, the payment amount was reduced for those earning more than $75,000 and phased out entirely for those earning above $99,000 ($198,000 for married couples).
As the pandemic continued to unfold, a second round of stimulus checks was authorized under the Economic Aid to Families, Education, and Health (HEALS) Act. This round provided eligible individuals with a payment of up to $600, with the same income thresholds and child tax credit rules as the first round. Additionally, eligible individuals receiving Social Security benefits were also included in this round, receiving a $600 payment as well.
The eligibility for the third round of stimulus checks, known as the American Rescue Plan Act, was expanded to include more individuals. This round provided eligible individuals with a payment of up to $1,400, with the same income thresholds and child tax credit rules as the previous rounds. Additionally, the payment amount was increased to $2,000 for each qualifying child under the age of 17. This round also included a one-time payment of $1,400 for eligible non-resident aliens and a $1,400 payment for each qualifying child.
While the majority of Americans have received at least one stimulus check, there are certain groups that may not qualify. For instance, individuals who are not U.S. citizens, permanent residents, or non-resident aliens are not eligible for the stimulus payments. Additionally, those who are claimed as a dependent on someone else’s tax return, such as a child or spouse, are not eligible to receive a stimulus check.
To ensure that individuals receive their stimulus checks, the IRS has implemented various methods of payment, including direct deposit, paper check, and debit card. It’s important for individuals to keep their contact information up to date with the IRS to ensure that they receive their payments promptly. For those who have not yet received their stimulus checks, the IRS has provided a tool on its website to check the status of their payment.
In conclusion, while the majority of Americans are eligible to receive a stimulus check, there are certain groups that may not qualify. It’s crucial for individuals to stay informed about the eligibility criteria and the payment process to ensure that they receive the financial assistance they need during these challenging times.
