Stimulus Check proved to be breath of fresh air in the darkest of times.
The next round of stimulus checks is projected to be distributed in the summer of 2022, with an estimated 3 million people getting $1,400 each.
The CARES Act provides $500 in stimulus money for any child 16 and under. The amount is divided into two parts: $300 at the start of summer, and another $200 on September 1st.
The funds can be used toward anything that helps improve your financial situation—anything from car payments to food purchases to utility bills.
Luckily, this amount is simple to receive; you simply need to fill out the application online or through the mail with a few personal details about yourself and your child’s situation.
In addition, if you’re eligible for other programs such as WIC (the Special Supplemental Nutrition Program for Women, Infants and Children), SNAP (Supplemental Nutrition Assistance Program), or Medicaid/CHIP (Children’s Health Insurance Plan), then you’ll get an extra $250 on top of these benefits from CARES!
This means that parents who qualify can receive up to $750 per child over summer break if they choose this option!
Stimulus Checks: Will The Families Get A Lifeline?
Every eligible adult received $1,400 for themselves and one for their spouse, up to a certain income threshold. If you are single, you can get the full amount if your household income is less than $81,000.
If married or in a civil union, the payments are split between two people so that you receive half of what your spouse would have received if they weren’t married to you (or vice versa).
If you make more than that amount—even just by one dollar—you won’t get any stimulus check at all. So make sure to file taxes!
The IRS has put out an online calculator with estimates on how much money will be going back into your pocket if taxes were paid correctly. It’s also important to remember that this number only applies when filing individually; it does not include couples who file jointly or with someone else as a dependent.