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Thursday, January 26, 2023

Stimulus Check: Check Your Eligibility And Act Accordingly

Not all the citizens of the United States of America received the stimulus check that was allocated. The amount that they missed was 1,400 USD. They are also those who managed to receive the amount; however, it was not a satisfactory one. They received much less than 1400 USD. 

The latest round of stimulus checks allocated was the third round. It was given out under the authorization of the US Congress and Joe Biden, the American President. The authorization was given in the month of February. The federal payments are a part of the rescue plan for America which accounts for a total of 1.9 trillion USD.

Stimulus Checks: How To Qualify? 

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The income threshold that was taken into consideration when it came to the two initial rounds of checks was the same. According to the threshold, all those individuals with a gross income, the adjusted one, of 75,000 USD, or the married couples who jointly file for the amount with up to 150,000 USD, or the household heads having up to 112,500 USD were eligible to receive the stimulus checks. 

However, things are not the same this time around. The citizens will not be qualified to receive the relief package in case the adjusted gross income is over the amount of 80,000 USD and the person happens to be single, or if it exceeds the amount of 120,000 USD if the person happens to head the household, and for the case of married couples, the amount should not go beyond 160,000 USD.

However, this does not mean that there is no solution that can be considered in order to qualify for the stimulus checks. There are some steps that can be tried in order to boost eligibility. It includes investing in an IRA or choosing to save in accounts this 2021. 

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