Stimulus Check is a form of government fiscal policy that puts money directly into the hands of taxpayers to boost consumer spending during a downturn. Unlike tax credits, which reduce the amount of actual tax that a household owes at the end of the year, stimulus checks are a way to immediately put money into households’ pockets. This article discusses how the different iterations of these Covid-19 relief payments work, who is eligible for them, and how they can be used.Read more :

In the wake of the global pandemic and its impact on families, Congress passed a package of emergency aid bills aimed at easing the financial burdens of many Americans. One of the components of this legislation was a series of direct payments, or “stimulus checks,” to households affected by the coronavirus outbreak. Three rounds of these Economic Impact Payments have been distributed. The first, authorized by the CARES Act in March 2020, was for up to $1,200 per eligible adult. A second round, authorized by the Coronavirus Response and Relief Supplemental Appropriations Act in December 2020, gave an additional $600 per eligible adult. And a third and final round of $1,400 per eligible adult was included in the American Rescue Plan Act signed into law on March 11, 2021.

Navigating the Stimulus Landscape: A Guide to Eligibility and Payments

These payments were made through the IRS and were deposited into bank accounts or sent as debit cards. In general, these payments were only available to people who meet certain income thresholds and do not have a current tax liability. The IRS also imposed rules that limit the number of people who can receive these payments. For example, someone who lives in a nursing home or residential care facility can only receive a stimulus check for themselves, not for their loved ones living there with them.

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