Are we receiving stimulus checks this month? This question has been on the minds of many Americans as the COVID-19 pandemic continues to impact the economy. With the recent passing of the American Rescue Plan Act, many are eagerly waiting to see if they will be eligible for another round of financial assistance from the government. In this article, we will discuss the eligibility criteria, the status of the stimulus checks, and what you can do to stay informed about your potential payment.
The American Rescue Plan Act, signed into law by President Joe Biden on March 11, 2021, authorized a third round of stimulus checks to provide financial relief to individuals and families affected by the pandemic. The act provides for stimulus checks of up to $1,400 per eligible individual, along with additional payments for qualifying dependents.
Eligibility for stimulus checks this month
To determine if you are eligible for a stimulus check this month, you must meet certain criteria. First, you must have a Social Security number and be a U.S. citizen or resident alien. If you are a non-citizen, you may still be eligible if you have a qualifying visa or status.
Your eligibility is also based on your adjusted gross income (AGI). For individuals, the income threshold is $75,000 for single filers, $112,500 for heads of household, and $150,000 for married couples filing jointly. For those who are married but filing separately, the income threshold is $75,000.
Status of stimulus checks
As of now, the IRS has begun sending out the third round of stimulus checks. However, it is important to note that the process may take several weeks for everyone to receive their payments. The IRS is working to identify eligible individuals and issue the checks as quickly as possible.
If you have already filed your taxes for the 2020 tax year, the IRS may use your tax return information to determine your eligibility and calculate your payment amount. If you have not yet filed your taxes, you can still be eligible for a stimulus check. The IRS will use information from your 2019 tax return or information you provided on the Non-Filers tool to determine your eligibility.
How to stay informed about your stimulus check
To stay informed about the status of your stimulus check, you can use the IRS’s “Get My Payment” tool. This tool allows you to track the status of your payment and provides an estimated delivery date. Additionally, you can sign up for email alerts from the IRS to receive updates on your payment status.
If you believe you are eligible for a stimulus check but have not received it yet, you can check your eligibility and update your information on the IRS website. It is also important to be cautious of scams related to stimulus checks. The IRS will never ask for your personal or financial information over the phone or via email.
In conclusion, if you are wondering whether you will be receiving a stimulus check this month, it is essential to check your eligibility and stay informed about the status of your payment. By using the IRS’s resources and being cautious of potential scams, you can ensure that you receive the financial assistance you need during these challenging times.
