Tuesday, March 21, 2023

What Is The Next Stimulus Check

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Fourth Stimulus Check Coming Now

What do you think about a lower income cap for the next stimulus check?

Lets start with the second half of that intro new checks going out now to California residents.

This new round of payments under Californias Golden State Stimulus II initiative will benefit millions of state residents. An estimated nine million Californians, to be exact. Taxpayers who have California adjusted gross income of $1 to $75,000 for the 2020 tax year and who their state tax return by October 15, 2021 are eligible for the Golden State Stimulus II, the website for the California Franchise Tax Board explains.

The states federal pandemic funds, as well as a $75.7 billion state budget surplus, are whats been funding these checks. The state has allocated $480 million to the Golden State Stimulus II effort. And the franchise tax board is the agency thats sending it all out.

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When Is The Next Stimulus Check Released

  • 10:13 ET, Dec 3 2021

MILLIONS of Americans have gotten some stimulus payments in the past year and some will get even more.

The direct payments intend to help citizens in need stimulate the economy by giving them more money to spend during a financial downturn.

As a result of the coronavirus pandemic, we have seen multiple stimulus check packages passed across the US.

Other forms of payments are going out ahead of Christmas as well.

But we explain below when the next set of stimulus checks could or have been confirmed to arrive.

Your Stimulus Check Is Coming Soon Heres How To Prepare


Congress passed the Coronavirus Aid, Relief, and Economic Security Act, which includes providing stimulus checks to stimulate the economy, and provide financial relief. The Treasury Department and the Internal Revenue Service will distribute these checks in the next three weeks. Heres what you need to know to ensure you receive your check, and how to make the most of your money.

Also Check: Ww.irs.gov Where My Stimulus

Big Oil Windfall Profits Tax

A proposal from Rep. Ro Khanna of California and Sen. Sheldon Whitehouse of Rhode Island would tax large oil and gas companies and use the revenue to send consumers a quarterly rebate.

The Big Oil Windfall Profits Tax would charge a per-barrel tax “equal to 50 percent of the difference between the current price of a barrel of oil and the pre-pandemic average price per barrel between 2015 and 2019,” according to a press release from the lawmakers.

If the per barrel price sits at $120, the tax would raise about $45 billion a year, the lawmakers said.

Single filers would receive about $240 each year, while joint filers would receive roughly $360 each year, they calculated. The payment would phase out for single filers who earn more than $75,000 in annual income and joint filers who earn more than $150,000.

“This is a bill to reduce gas prices and hold Big Oil accountable. As Russia’s invasion of Ukraine sends gas prices soaring, fossil fuel companies are raking in record profits,” Khanna said in a statement.

“These companies have made billions and used the profits to enrich their own shareholders while average Americans are hurting at the pump.”

A Fourth Stimulus Check Is Possible

When Do We Get The Next Stimulus Check : 600 Second ...

For most Americans, it is extremely unlikely a fourth stimulus check will be provided. Here are a few key reasons why:

For all of these reasons, another check is unlikely to happen unless conditions take a dramatic turn for the worse — such as another COVID-19 variant that is vaccine resistant, easily transmitted, and more deadly.

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What If I Havent Gotten My Stimulus Check Yet

First, head over to the governments Get My Payment site to check in on your payment status. If it shows the stimulus check was issued to you, but you havent gotten it yet, you can run a payment trace to track it down. If the check wasnt cashed, the IRS will reverse the payment, and youll be able to claim it on your taxes. You can do this through the Recovery Rebate Credit.

If the check was cashed , youll have to make a claim and go through a whole process to get your stimulus money. That really stinks. Sorry in advance if you fall into that category. But with any luck, they should be able to straighten things out for you.

How To Return A Paper Check You Have Cashed Or Deposited

If you have already cashed or deposited the check , heres how you can return the money:

  • Make a personal check or money order payable to U.S. Treasury.
  • Write 2020EIP on the payment and include either the taxpayer identification number or Social Security number of the person whose name was on the stimulus payment.
  • On a sticky note or sheet of paper, write down the reason youre sending the check or money order.
  • Mail the check or money order and the explanation to your local IRS office .13

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Stimulus Check Scams And Hoaxes

Of course, popular demand for widely distributed stimulus payments, and the confusing political maneuvering that goes into crafting stimulus bills, creates an information gap that’s easily exploited by scammers.

Even with the first wave of stimulus checks in 2020, we saw bogus email messages that pretended to be from the IRS, promising “an important update on your Covid relief fund.” But they just took you to phishing sites that wanted your Social Security number and other sensitive bits of information.

Following the second stimulus bill at the beginning of 2021, those email phishing attempts were joined by scam phone calls demanding your personal details so that you could be “cleared” to receive more stimulus checks.

In March, as President Biden’s American Rescue Plan was making its way through Congress, new phishing emails promised the moon: a $4,000 stimulus check, a boost in the minimum wage, free meals and, best of all, priority treatment that let you skip lines at COVID-19 vaccination sites.

Most recently, cruel pranksters have been passing around posts on Facebook that a fourth stimulus check worth $2,500 is coming by the end of July. Don’t believe it, and don’t believe the phishing websites that claim to register you for child-tax-credit advance payments.

In fact, most parents and legal guardians don’t need to do anything to get the payments they’ll just show up in your mailbox or bank account.

Stimulus Update: Why Are States Giving Out A Fourth Stimulus Check

Stimulus Check Latest: What’s The Timeline On Receiving Next Payment?

It all started back when the American Rescue Plan rolled out. States were given $195 billion to help fund their own local economic recovery at the state level.1 But they dont have forever to spend this moneystates have to use it all by the end of 2021, so the clock is ticking here. Some states have given out their own version of a stimulus check to everyone, and others are targeting it at specific groups like teachers. And other states? Well, they havent spent any of it yet.

Some states like Colorado, Maryland and New Mexico are giving stimulus checks to people who make less than a certain amount of money or who were on unemployment. So far, California is the only state to give out a broader-sweeping stimulus check.2 Other states like Florida, Georgia, Michigan, Tennessee and Texas are putting the money toward $1,000 bonuses for teachers.

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Is Congress Talking About A Fourth Stimulus Check

There are no signs that lawmakers in Washington, D.C. are in serious discussions about a fourth direct payment stimulus check. While there have been calls by the public and from some lawmakers for recurring payments, there has been practically nothing in terms of action.

Emails and phone calls to the White House, Sen. Bernie Sanders, I-Vt., who is chair of the Senate Budget Committee, and Rep. John Yarmuth, D-Ky., chair of the House Budget Committee, asking if such payments are under discussion were not returned.

One pandemic-related stimulus that is being considered for an extension is the monthly advance child tax credit. It raised the previous tax credit from $2,000 at tax time to $3,000-$3,600 with the option of monthly payments. A one-year extension is part of the Build Back Better bill that passed the House. But Sen. Joe Manchin, D-W.V., announced Sunday he would not vote for it. With no Republicans on board, passage of the bill is doomed unless an alternative is found.

A group of Democrats sent a letter to Biden in back in May , but the letter did not get into specifics and nothing else came of it.

A change.org petition started by Denver restaurant owner Stephanie Bonin in 2020 called on Congress to pass regular checks of $2,000 for adults and $1,000 for kids for the duration of the pandemic crisis.

As of late December, the petition has reached nearly 3 million signatures.

Stimulus Payment Schedule: When Are New Payments Coming In 2022

A look at some of the key dates for stimulus spending

With 2021 having become 2022, Americans are wondering if they’ll receive a new stimulus check to start the new year. There are indeed some new stimulus checks, but there aren’t plans for a new nationwide rollout of stimulus checks, as was seen at the start of the pandemic.

The main talk in the USA right now concerns a $1,400 stimulus check. While most people have already received their full stimulus check payment, those who had eligible children in 2021 are able to claim this Recovery Rebate Credit on their next tax return.

Then, there are some states offering stimulus checks to help boost the local economies, with the likes of California, Connecticut, Florida, Georgia New York and Tennessee having organised such legislation in 2021.

Looking into 2022, we’ll outline here what the key dates are in terms of the 2022 stimulus payments.

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When Will The Next Stimulus Check

Some other states have sent out direct payments.

This includes Maine and Seattle, and Maryland, which are sending stimulus checks worth $285, $3,000, and $500.

Some cities are also implementing universal basic income programs, which is a set of recurring payments.

Teens in New Orleans, Louisiana will start getting $350 in monthly payments this month as part of the states financial literacy program.

Households with low earnings in Pittsburgh, Pennsylvania will get $500 a month in payments for two years.

Low-income households in Chicago will get $500 in monthly payments.

And Columbia is sending out $500 per month to 100 low-income fathers.

Which Tax Return Is Used For My Third Stimulus Check

Finally! Second Stimulus Check Coming Next Week!

The IRS uses 2019 or 2020 tax returns to determine eligibility for your third stimulus check. You should note that if your income fell in the 2020 tax year, filing your tax return earlier could help you qualify for a bigger third stimulus check. The new stimulus plan targets lower income ranges to exclude higher-earning taxpayers from getting a payment.

As we pointed out before, individuals making under $75,000 get the maximum stimulus payment of $1,400 . But payments are capped at $80,000 for single filers and $160,000 for couples. So filing at the beginning of the tax season with a lower income may help you qualify for a bigger check. But, if your income went up in tax year 2020, then you may want to delay filing so that eligibility is determined by your lower 2019 income.

You might also want to file early if the size of your family increased in 2020. The new stimulus plan includes a child tax credit that pays up to $3,600 for each qualifying child under 6 years old, and $3,000 for every child between ages 6 and 17. This means that if you became a parent during the tax year, you could get an additional payment by claiming your child as a dependent earlier.

SmartAssets child tax credit calculator will help you figure out how much you could get for each child.

You can use SmartAssets tax return calculator to figure out your 2021 tax refund or tax bill.

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Families May Be Eligible For Larger Checks

The CARES Act provided a $500 payment for eligible children ages 16 and under. The HEROES Act calls for a $1,200 payment per qualified dependent, up to three dependents. This means families could be eligible for up to $6,000 in stimulus payments.

Some of the other proposals, such as the Emergency Money for the People Act would provide a $2,000 monthly check for everyone over the age of 16 making less than $130,000 per year, and an additional $500 per dependent for up to 3 dependents. Other stimulus proposals call for monthly checks with $2,000 for both the taxpayer and dependents. All of the current proposals are more generous for families than the stimulus check passed under the CARES Act.

Joe Biden’s Stimulus Check Changes: Do You Still Qualify For $1400

Congress is moving quickly on the third round of stimulus checks, for up to $1,400. However, a new compromise could leave you out this time.

The Senate passed the legislation on Saturday but first, President Joe Biden OK’d a plan from Senate Democrats to change the eligibility rules, to “target” the stimulus checks away from Americans with higher incomes. That means millions of previous recipients won’t get cash in the new go-round.

Democratic leaders who control Congress hope to complete work on the bill so Biden can sign it in the coming week. Which means it may not be long before you have an additional $1,400 to pay down debt, save or use for expenses.

That is, if you’re still eligible.

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Child Tax Credit Economic Stimulus Check Would Extend For Years

Good news is given this Thursday, September 9 for the citizens of the United States, since they report that the economic stimulus check that is delivered as a tax credit for children, could be extended for a few years, according to a publication made by the portal of news of The Sun.

The information that is available so far is that the group of Democrats in the Senate are currently analyzing a three-year extension of this type of credit, which would give the families up to $ 3,600 per kid only in this 2021.

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Areas Where Republicans And Democrats Agree

  • A second stimulus check: Lawmakers on both sides of the aisle have announced support for another wave of direct payments to Americans, though it remains unclear whether the income threshold for receiving them will change.

We want another round of direct payments, McConnell said in a floor speech Tuesday.

Through the CARES Act, which was signed into law in March, most adults who made less than an adjusted gross income of $75,000 annually were eligible to receive a $1,200 check, along with an additional $500 payment per qualifying child. Payments were cut off for individuals who had an AGI of more than $99,000.

In the HEROES Act, Democrats proposed that individuals receive up to $1,200 per dependent, capped at three dependents. Republicans, meanwhile, have floated reducing the income threshold for direct payments to $40,000, which means the checks would go out to a much smaller group of people this time around.

  • Funding for coronavirus vaccine development, testing, and treatment: Theres bipartisan interest in additional funding for coronavirus testing and treatment, though Republicans still need to sort out pushback from the White House on this front, CNBC reported July 18.

Reducing coronavirus cases is of the utmost importance for any economic recovery since many businesses and industries have had to reduce operations as part of efforts to limit the spread of the virus.

What Republicans Want

  • A fix for unemployment insurance: The current UI expansion in the CARES Act adds another $600 to the weekly amount that recipients get from states, and Republicans have long been interested in either eliminating or reducing the extra money because they see it as deterring people from returning to work.

Their critique overlooks the current reality of the pandemic: Right now, the UI is helping people stay home in order to protect themselves and others from the coronavirus. Additionally, the Republicans view doesnt acknowledge the fact that many jobs that have been lost arent coming back in the near term.

There could be an interesting time for that discussion when jobs are actually available, said Heidi Shierholz, senior economist and policy director at the Economic Policy Institute. But right now that discussion just rings so false and ideological.

Republicans are expected to push for a reduction in the expanded UI amount, and Mnuchin previously floated the idea of allocating funds that more closely match an unemployed persons previous wages.

  • Liability protections for businesses: Republicans have also repeatedly said that one of their chief goals is ensuring that businesses and other entities are protected from coronavirus-related lawsuits that emerge from customers and employees.

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How Do I Get My Check

These checks will distribute automatically, with no action required for most people. The IRS will use the information in your 2019 tax return to calculate your payment, and use the information in your filing to send or deposit your check. If you havent filed your return for 2019, the IRS will use information from your 2018 tax filing to calculate the payment.

Taxpayers who typically do not file returns will need to submit a simple tax return to receive the economic impact payment. Visit the IRS Non-Filers website to learn more about how to receive payment.

In the event your direct deposit account information changed, either the IRS will mail you a paper check, or you can update your direct deposit information via the Treasury Department.

You can also track your stimulus payment at

For more information about Stimulus Checks, please visit the IRS website at

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