The IRS recently maintained that the third stimulus check might include a larger payment for those that had ongoing payments. Individuals who had received their payments way back in March based on the tax returns of 2019 were now eligible for a much larger payment that would be based on the tax returns of 2020. Most Americans would be receiving this bonus payment if they found their income drop from the last year- or if they had a dependent or a child.
The Fourth Stimulus Check In The Works?
Interestingly, you would be eligible for an increase on your stimulus check only if the change took place between the tax returns of 2019 and 2020. The addition to the payments was announced on the 1st of April- and also includes those who had no information to provide to the IRS regarding their income and dependents. As reported, this extra cash would be put out on a weekly basis- which entails that if you have recently filed your tax returns, you might be receiving this payment soon.
Currently, most American citizens have been looking towards yet another stimulus check. Around 75 lawmakers have already pledged their support to another round of stimulus payments. It would also serve them if the payments were made monthly in a recurring manner until the pandemic met its end. A Change.org petition regarding a stimulus check worth $2,000 has already garnered more than two million signatures. According to recent news, this was started by Stephanie Bonin, a restaurant owner from Denver, last year.
Support for the third stimulus check has increased ever since January, when Ilhan Omar, the Democratic representative from Minnesota put forward the need for recurring payments- which was later sent to President Biden in a letter.