During the COVID-19 pandemic, the US government gave out three rounds of stimulus checks to help people with money problems.
Now, there’s a fourth round of checks expected in July 2024. Here’s what you need to know about these upcoming checks, including when they’ll arrive and who can get them.
What Are the Fourth Wave of Stimulus Checks?
The US Federal Government is getting ready to send out more financial aid. The Internal Revenue Service (IRS) will manage the distribution of these checks in July 2024. These checks will be available in 9 out of 20 states. If you’re eligible, you’ll get this financial help soon.
These checks will be added to your total income. As of December 2023, the federal authorities haven’t confirmed the exact details of the checks yet. However, under the current plans, eligible individuals might get $1,400 each, and married couples might receive $2,800.
When Will the Checks Arrive?
The Fourth Wave of Stimulus Checks is expected to arrive in July 2024. The purpose of these checks is to help with financial difficulties. The IRS will use the Economic Impact Payment system to decide who gets the checks based on past and present issues.
Because of concerns about government spending and rising debt, these checks will follow specific rules. They will focus on helping certain parts of the economy that are struggling. Federal policies are working on making these stimulus checks available.
Who Can Get the Fourth Wave of Stimulus Checks?
To qualify for the Fourth Wave of Stimulus Checks, you need to meet these income criteria:
- Adjusted Gross Income: Your adjusted gross income must be below $75,000.
- Head of Household: If you are the head of household, the income limit is $112,500.
- Married Couples: For married couples filing together, the income limit is $150,000.
- Dependents: Additional payments will be made for dependents under 17 years old. Each dependent will get an amount equal to the tax payment.
If your income is below these amounts, you may qualify. To receive the check, you need to file your income tax return with the IRS. The Fourth Wave of Stimulus Checks aims to help low-income Americans with their living expenses.
How to Get Your Payment
The financial help will be directly deposited into your bank account. Here’s how to make sure you get it:
- File Your Tax Return: Make sure to file your income tax return with the IRS.
- Check Your Bank Account: The payment will be directly deposited into your account.
This financial aid will help you manage costs like rent, groceries, and utilities. Each eligible person will also get an extra $600 for each child. The goal is to help people deal with rising prices and financial problems.
The Fourth Wave of Stimulus Checks will provide essential support to low-income Americans. To qualify, you need to meet the income limits and file your tax returns. The IRS will handle the distribution to ensure the payments reach those who need them.
When will the Fourth Wave of Stimulus Checks be sent out?
The checks are expected to be distributed in July 2024.
How much money will I get from the Fourth Wave of Stimulus Checks?
Eligible individuals might receive $1,400, and married couples could get $2,800.
Who qualifies for these checks?
You need to meet income limits: below $75,000 for individuals, $112,500 for heads of household, and $150,000 for married couples filing jointly.
How do I get my payment?
The payment will be directly deposited into your bank account if you file your tax return with the IRS.
Will I get extra money for my children?
Yes, each eligible child will receive an additional $600.
