Stimulus Check

Stimulus Check

 

American Rescue Plan Act of 2021

On Wednesday, Congress passed the American Rescue Plan legislation. This legislation includes $12.7 billion funding for one year to strengthen and expand access to Medicaid home and community-based services (HCBS).  Along with the funding, this bill will allow all people with disabilities (including “adult dependents”) to receive stimulus payments and allow an extension and expansion of tax credits for COVID leave.  Families will be able to take care of other members while care is interrupted. 

Key features of the package

  • Up to $1,400-per-person stimulus payments that will send money to about 90% of households (Use our calculator to see if you’ll qualify for a stimulus check.)
  • A $300 federal boost to weekly jobless benefits
  • An expansion of the child tax credit of up to $3,600 per child
  • $350 billion in state and local aid, as well as billions of dollars for K-12 schools to help students return to the classroom, to assist small businesses hard-hit by the pandemic and for vaccine research, development and distribution.
  • Extends a 15% increase in food stamp benefits through September
  • Exempt up to $10,200 in last year’s unemployment payments 
  • Helps low-income households cover rent

What happens next: Psaki said, “The bill text will be rechecked, printed, and signed by the appropriate leaders in the House and Senate.” The House clerks will then deliver the bill to the White House for the President’s signature.

After Biden signs the bill, the turnaround time — between it being a more than 600-page bill and money in people’s pockets — could be relatively quick.

People could start seeing the $1,400 stimulus payments hit their bank accounts within days of Biden signing the bill.

The payments do not all go out at once. Those whose bank information is on file with the IRS would likely get the money first because it would be directly deposited into their accounts. Others may receive paper checks or prepaid debit cards in the mail. 

 

Eligibility

Adults and families with work-eligible social security numbers (SSN) can receive economic impact payments from the Internal Revenue Service (IRS) through the Consolidated Appropriations Act of 2021 and the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Some mixed-status families are eligible. The IRS issues a direct deposit, check, or debit card.

For more information on how stimulus checks work, if you or your family members are eligible, and how to apply: Click Here

 

Latest Updates on Coronavirus Tax Relief & Additional Coronavirus Information and Resources

For the latest updates on Coronavirus tax relief and for more information for individuals and families, business/tax-exempt entities, and health plans/retirement plans –

Visit the IRS.gov website or click here: IRS Coronavirus Tax Relief and Economic Impact Payments

 

Check Your Payment Status

To check your second stimulus payment status, the status of your first Economic Impact Payment Status, or to learn more about how to claim a recovery rebate credit with your 2020 income tax return: Coronavirus Economic Impact Payments

 

Questions and Answers about Economic Impact Payment

To read on frequently asked questions about the second Economic Impact (Stimulus) Payment, please visit IRS.gov or click here: Questions and Answers about the Second Economic Impact Payment

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