For those who are unaware of stimulus check payments, these are the payments that the government issues during periods of economic difficulty.
The most recent stimulus payments were issued to lessen the impact of the pandemic- particularly the lockdowns that had been put in place to stop the spread of the virus. These payments were called the Economic Impact Payments, and the government issued three separate stimulus payments during this period in 2020 and 2021. Three stimulus payments were issued during the pandemic- the first one was the Coronavirus Aid, Relief, and Economic Security Act where the first check was authorized in March 2020. It provided a sum of $1,200 per eligible adult and a sum of $500 per eligible dependent child.
Stimulus Check Payment- The Chronology Of The Payments
Another stimulus check payment was issued in December 2020- which issued every adult a sum of $600, and a dependent child. Another stimulus payment of $1,400 was issued per adult, and dependent- which was made available by the American Rescue Plan Act on the 11th of March 2021. When the payments were on the conveyor belt and about to be issued, they were initially issued to only those individuals with Social Security numbers. However, the rules of eligibility soon varied based on the payments. For the first couple of payments, people who had claimed as a dependent on a tax return wouldn’t be considered eligible for their payment.
There were also certain income limits- as the first three stimulus check payments were available in full to the single tax filers- who had an income of under $75,000. The heads of household with income under $112,500 were also considered eligible- as were married joint filers with an income under $150,000.
