The possibility of a fourth stimulus package has not been officially confirmed, but some sources suggest it could come in October 2024. The American Rescue Plan is the latest stimulus package, accounting for the first round of stimulus in 2021.
The United States government provided various supports and tax incentives to its residents, which was of great help to American citizens during the pandemic period. While the stimulus checks helped some people financially, they were not a long-term solution to all problems.
Furthermore, these stimulus controls exhibited significant variation depending on individual circumstances.
US citizens are currently waiting for their IRS stimulus checks for the Fourth Tax (2024), which are expected to arrive in the range of $3,500.
The amount of IRS stimulus checks for the 2024 fourth tax varies between $500 and $3,500, depending on the terms of your taxes paid.
If you are also a United States citizen or would like to learn more about your fourth tax stimulus check from the IRS, you should check the status of your payment.
IRS Fourth Tax stimulus checks are currently expected for U.S. citizens, and it is predicted that the payment amount could range from $500 to $3,500 depending on the circumstances of your tax payment.
Citizens who want to find out if they are eligible for the fourth IRS stimulus check may want to check their payment status and consult the official IRS website.
How much did the first three stimulus checks pay?
The COVID-19 stimulus measures not only provided significant financial support during difficult times for the American people, but also enabled monitoring of the US economy.
Thanks to the funding, many people were able to pay for their basic needs and medical bills and even pay off debts if they had them.
It's safe to assume that most taxpayers, citizens and legal residents of the U.S. could be eligible for new stimulus checks, but fewer people will be eligible, according to this year's IRS.
Despite the first, second and third stimulus packages passed by the US monetary policy and some initiatives promoted by some lawmakers, there is still not much support in Congress for introducing more stimulus packages.
During the latest round of stimulus packages, about $5 trillion was transferred to support various sectors, including airlines, local governments, medical facilities and retailers.
Eligible Americans received significant financial assistance during the three-month recession period. Below you will find detailed information about each stimulus check issued.
First stimulus check (CARES Act, 2020)
Maximum amount: Individual taxpayers were entitled to $1,200, while dependent children under 17 were entitled to $500.
Eligibility: The determination was based on the adjusted gross income (AGI) reported on the most recent tax return.
Date of payment: Spring 2020.
Second stimulus check (Consolidated Appropriations Act, 2021)
Maximum amount: The amount of the stimulus payment for each taxpayer was $600. In addition, a payment of $600 was made for each dependent, including adult dependents.
Eligibility: Similar to the first test, based on AGI. Payment date: early 2021.
Third stimulus check (American Rescue Plan Act, 2021)
Maximum amount: Each taxpayer was awarded $1,400 and an additional $1,400 was transferred for each dependent, including adult dependents.
Eligibility: Based on your AGI from your 2019 or 2020 tax return.
date of payment: Spring 2021.
Stimulus check requirements
Eligibility criteria for previous stimulus checks required an individual to be a U.S. citizen or resident alien with a valid Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN).
Additionally, they must not have been claimed as a dependent on another person's tax return and must have filed taxes in 2019 or 2020.
These conditions ensured that the program was accessible to eligible residents and targeted to those in financial need during difficult times. In addition, income requirements were required:
Individual applicants: Adjusted Gross Income (AGI) up to $75,000. Married jointly: AGI up to $150,000. Head of Household: AGI up to $112,500.
Subscribe to notifications