Stimulus Check Update- Memorial Day Payment

Stimulus Check
Stimulus Check

A Facebook post has brought up the possibility of leaving millions of Americans with a fourth federal stimulus check payment. The post was then shared around 250 times, and it was highlighted that a fourth stimulus payment worth $2,000 per person would be delivered by the Memorial Day weekend.

Also, the post went on to claim falsely that a CTC stimulus payment of $300 would be issued from July all the way to December. It is to be noted that the entire post was fabricated- and there is nothing true about it. Congress hasn’t decided yet- as to where they stand on the fourth stimulus check payment. The last federal stimulus check was seemingly passed the previous year and had a payment of $1,400 to every taxpayer out there. 

Memorial Day Stimulus Check Payment To Be False

The stimulus check payments were initially part of a $1.9 trillion coronavirus relief package. As far as the child tax credit is concerned, the IRS will start issuing its monthly payments for a far larger child tax credit back in July. However, the amount that has been claimed is false- and it is not expected that every single family will be receiving the amount. Most low-income families have qualified for the monthly payments of $250 or $300 per child between July and December. 

As of now, the total tax credit for 2021 has been $3,000 for every single qualifying child between the ages of 6 and 17. For those under the age of six, parents will be receiving a payment of $3,600- as mentioned by the IRS. The IRS has already sent around 164 million payments which bring out a total of $38 billion in the third round of stimulus check payments. 

Now, while the federal government hasn’t issued stimulus check payments yet, the states have certainly started issuing them themselves.