How to Check If You Qualify for the 4th Stimulus Check: Informational Guide
With the COVID-19 pandemic continuing to linger, the US government has rolled out several rounds of economic stimulus packages aimed at providing relief to struggling Americans. Recently, a fourth stimulus check has been proposed, but not everyone will qualify, so it’s crucial to know the eligibility criteria.
In this informational guide, you’ll learn how to check if you’re eligible for the 4th stimulus check, what the proposed amount is expected to be, and when and how you can expect to receive it. So, let’s dive in.
What is the 4th Stimulus Check?
The 4th stimulus check, also known as the ‘American Rescue Plan (ARP) 2021’, is the latest economic relief package proposed by the US government to tackle the ongoing pandemic’s financial impact. The package includes stimulus checks of up to $1,400 to eligible individuals.
Who Qualifies for the 4th Stimulus Check?
To qualify for the 4th stimulus check, you must meet the following eligibility criteria:
– Be a US citizen, permanent resident, or a qualifying resident alien.
– Have a valid Social Security number.
– Be above the age of 18.
– Have an adjusted gross income (AGI) of $75,000 or less for single filers, $112,500 or less for the head of household, and $150,000 or less for married couples filing jointly.
If your income falls under the AGI limit, you’ll receive the full stimulus payment amount. However, the payment amount decreases for those with higher incomes and eventually phases out altogether for individuals who earn above $80,000, heads of household who earn above $120,000, and married couples who earn above $160,000.
How Much Will You Receive?
The proposed amount for the 4th stimulus check is up to $1,400 per eligible individual. For couples, the amount doubles to $2,800. In addition to this, a $1,400 payment will be made for each dependent, including adult dependents.
When Will You Receive the Payment?
The IRS will start sending payments through direct deposit, paper checks, and debit cards in late March 2021. However, the exact payment dates depend on various factors, including your tax filing status, income, and payment method.
You can use the ‘Get My Payment’ tool on the IRS website to track your payment status. If you have any issues with the payment, you can contact the IRS helpline for assistance.
Conclusion
The 4th stimulus check is a much-needed relief for many Americans who have been affected by the pandemic’s financial fallout. Knowing the eligibility criteria, payment amount, and payment details can help you determine whether you qualify for the stimulus payment and what to expect.
It’s essential to note that the ARP 2021 is still under consideration, and the details mentioned in this article may be subject to changes based on government decisions. Keeping yourself updated with the latest information from reliable sources can help you stay informed.
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