New stimulus checks arrive this week

More money from the federal government is expected to arrive in the mailboxes and bank accounts of millions of families as early as Friday, with the arrival of the next stimulus payment from the IRS.

The reason? This will be the fourth of six checks the tax agency will send out until the end of this year. Six checks, that is, which are essentially all tied together. This is another part of the enlarged federal government child tax credit, which was made possible by the $ 1.9 trillion stimulus bill passed by Congress in March. If you’re eligible to receive that next stimulus payment – which should show up in bank accounts on Friday but will take a few more days to arrive in the mail if you receive a paper check – you should also have received the third of those six. checks in the last month. This round of payments began on July 15.

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Next stimulus payment coming Friday

In terms of eligibility, this new check, like last time, is aimed specifically at families with children. And children, regardless of their number, must belong to one of the two age groups. If you are a parent of one or more children under the age of six (or if yours are not over the age of 17), you will likely receive one of these next checks. “Probably” being the key word.

This IRS portal has the full list of eligibility details, including income requirements. Scroll down to the bottom of this page and click the blue “Check Your Eligibility” button to learn more.

Even if you have a child or children who fall into one of the above age groups, you may still not qualify for full payment if your income is too high. You will receive full payment, for example, if your household income is equal to or less than:

• $ 150,000 as a married couple filing a joint return (or if you are completing a return as an eligible widow or widower);
• $ 112,500, if declared as head of the family; Where
• $ 75,000 if you are a single tax filer or if you are married and filing a separate return.

How much money is coming?

This next stimulus payment will also bring in the same amount of money the beneficiaries got last time around. For each child aged six to 17, each of the six monthly checks will include $ 250. The amount is $ 300 / month for each child under six.

If you add up the six checks you receive, you will also get that amount next year. Just like a one-time lump sum, instead. It will take the form of a tax credit when you file your federal taxes in 2022.

When does the stimulus arrive?

As you have understood, this Friday, October 15, you will receive your next check. It will either be deposited directly into your bank account, or you will receive it in the mail a few days later. Meanwhile, the next dunning check dates after this one are November 15 and December 15. You may receive more in 2022, but it could be after you file your taxes.

Is a fourth stimulus check coming up?

The answer to this is maybe. This could be the case if you qualify for a dunning check under certain guidelines. Having a child this year will potentially help you get money in 2022. It can be returned to you when you file your taxes in 2022. But that money is not actually a new, fourth stimulus check. The funding for this happened in the March stimulus bill.

Where do I get the next stimulus payment from?

This is an important question because a lot of people are still struggling. States pay certain professions money for their work during the pandemic. Tennessee, for example, gives a sort of risk bonus to teachers who worked full-time during the COVID-19 outbreak. Florida is also rewarding teachers, as it has set aside $ 216 million for educators.

Two-thirds of Californians are eligible for new rounds of $ 600 checks. Maryland, New Mexico, Vermont, and Michigan are just a few of the states that give back to essential workers and first responders. New York City could also be eligible for the next stimulus payment, as $ 65 million will help the taxi industry and $ 1,800 artists could win grants.

The best ways to keep track of it all

If you’re struggling to figure out what all of this means and who may be eligible, you’re not alone. Keep following on BGR.com, but also check your own state’s government websites to see if you’re eligible for more money. In addition, there is the above IRS portal and the US Department of the Treasury links for COVID-19 relief.

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