Will there be a fourth stimulus check?
Both Congress and the current Administration are in talks about a new economic aid bill. There is a fourth stimulus check on the table and it’s likely to be sent out starting in July if passed. However, there is no official date yet and it all hinges on whether the package is passed or not. The proposed American Rescue Plan includes stimulus checks, child tax credits, and federal unemployment bonuses, according to CNet.
Which stimulus checks have been sent out so far?
A total of three separate stimulus checks have been sent out directly to Americans so far.
* First round: up to $1,200
* Second round: up to $600
* Third round: up to $1,400
The actual amount you receive is determined by your family situation and your income.Use the Forbes stimulus check calculator to determine how much you should receive.
What if I haven’t received previous stimulus checks?
There are many reasons why you may not receive the stimulus. Other than not qualifying for the stimulus check, many people have not received stimulus money based on errors in their bank account details or address, failure or no need to file taxes in the previous year, and more.
However, if you missed a previous stimulus check you can claim it when filing your tax return. The federal deadline for filing taxes has been extended to Oct. 14. When you fill out your taxes, you can claim the recovery rebate credit to receive money for the first or second stimulus checks as part of your tax refund.
The third round of stimulus payments are still being processed. Many people received their third check back in march, but the IRS is still working on sending them out. The key to receiving your third stimulus payment is filing a tax return for 2020. Filing your taxes provide the IRS with all the information they need to process your third payment. So if you haven’t filed your taxes yet, do so today!
If you are wondering where your third stimulus check is you can check the status of your payment on the IRS Get My Payment Tool. It’s important to make sure the info you enter is this tool matches the info you submitted on your tax return exactly. If it doesn’t measure up exactly, the tool may not be able to determine the status of your stimulus payment. Be aware that you only get 3 attempts daily to check your stimulus check status before getting locked out.