stimulus checks dates and amounts

James Baker

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22-11-2024

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Meta Description: Uncover the complete history of stimulus check payments in the US, including dates, amounts, eligibility requirements, and answers to frequently asked questions. Get all the details on economic impact payments here!

Stimulus checks, officially known as Economic Impact Payments (EIP), have been a significant part of the US government's response to economic crises. This comprehensive guide covers the dates and amounts of past stimulus checks, eligibility requirements, and answers frequently asked questions.

Stimulus Check 1: The CARES Act (2020)

The first round of stimulus checks was distributed as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law on March 27, 2020.

Dates and Amounts:

• Payment Dates: The first payments began arriving in April 2020, with most people receiving their checks by the end of the year. The method of payment varied (direct deposit, mailed check, or prepaid debit card).
• Payment Amounts: The amount depended on your adjusted gross income (AGI) from your 2018 or 2019 tax return. The maximum amount was $1,200 for single filers and $2,400 for married couples filing jointly, plus an additional $500 per qualifying child.

Eligibility Requirements:

• Social Security Number: You needed a valid Social Security number (SSN).
• Income Limits: The payment began phasing out for single filers with AGIs above $75,000 and for married couples filing jointly with AGIs above $150,000.

Stimulus Check 2: The Consolidated Appropriations Act (2020)

The second round of stimulus checks was included in the Consolidated Appropriations Act, signed into law on December 27, 2020.

Dates and Amounts:

• Payment Dates: Payments began going out in January 2021.
• Payment Amounts: The maximum payment was $600 for single filers and $1,200 for married couples filing jointly, plus an additional $600 per qualifying child.

Eligibility Requirements:

• Similar to the first stimulus check, eligibility was based on AGI, with payments phasing out at higher income levels. The exact thresholds were slightly different from the first stimulus.

Stimulus Check 3: The American Rescue Plan Act (2021)

The American Rescue Plan Act, signed into law on March 11, 2021, authorized a third round of stimulus checks.

Dates and Amounts:

• Payment Dates: Payments started arriving in March 2021.
• Payment Amounts: The maximum payment was $1,400 for single filers and $2,800 for married couples filing jointly, plus an additional $1,400 per qualifying child.

Eligibility Requirements:

• Eligibility was again based on income, with phase-outs beginning at higher income levels than the previous rounds.

Frequently Asked Questions (FAQs)

Q: Where can I find the status of my stimulus check?

A: The IRS website provides a tool to track your payment status. You'll need your Social Security number and other relevant information.

Q: What if I didn't receive my stimulus check?

A: If you believe you were eligible but didn't receive a payment, you can file an amended tax return to claim the Recovery Rebate Credit.

Q: What constitutes a "qualifying child"?

A: The IRS website provides detailed information on the requirements for a qualifying child. Generally, the child must be under 17, be claimed as a dependent, and be a US citizen or resident alien.

Q: Will there be another stimulus check?

A: Currently, there are no plans for another broad stimulus check program. However, future economic conditions may lead to changes in government policy.

Conclusion

Understanding the dates and amounts of past stimulus checks is crucial for taxpayers. This guide provides a clear overview of the three rounds of payments, including their eligibility requirements and how to check your payment status. Remember to consult the official IRS website for the most accurate and up-to-date information. While there's no guarantee of future stimulus checks, staying informed about economic developments and government policies is always wise.