Third Stimulus Check: Is there a fourth stimulus check coming in 2021?
There most likely will not be a fourth round of stimulus checks for most Americans, but some might get a form of financial relief in July.
(BA)7SEHQBEJBI4UWIRSTKTBBM”>This will likely come in the form of the expanded child tax credit, which will be distributed between July 15 and Dec. 15.
Under the American Rescue Act, the Internal Revenue Service (IRS) would send out monthly checks between July and December for eligible parents, according to CBS News.
CBS News reported that a total of 36 million families are expected and eligible to receive the payments. Families will receive $300 for each child under 6 years old and $250 for each child between 6 and 17 years of age, according to CBS News.
According to the IRS, there will be some income thresholds for families who wish to receive a check. Here are the income qualifications as reported by CNBC:
- $75,000 for single parents
- $112,500 for the head of the household
- $150,000 for a married couple who file a joint return, or who qualify as a widow or widower.
Probably not, given the economy’s continued path to recovery. That being said, more than 2.3 million people signed a Change.org petition called “$2000/month to every American.”
Sen. Bernie Sanders (I-Vt.) also showed support for additional stimulus checks in a recent tweet after the University of Michigan released study results analyzing the stimulus checks, finding that they resulted in lower rates of food insecurity and financial instability.
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