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Tuesday, December 7, 2021

Stimulus Check Update: Methods To Secure Payments

Although it has been made very clear that the current year will be the year for stimulus check payments, there is a lot more to the story. This is precisely due to the stimulus payments not simply being from the IRS, but also the states and localities that have been issuing payments to millions of Americans. They have got in the game- crafting their own programs which are stimulus-related. 

Methods of Securing Stimulus Check Payments

One of the best methods of securing these payments is through Child Tax Credit. The federal government has already pushed for three different standalone stimulus check payments so far in the pandemic. Two of them have come during the time of President Trump, while one of them has come under President Biden.

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The six checks that construe this payment comprise an advance payment on half of the federal child tax credit for the family. The second half will also be coming the next year- in the form of an actual tax credit when one would end up filing their taxes.

Another method would be utilizing the stimulus check law that Biden signed earlier in 2021- along with the final stimulus legislation from the previous administration- which went on to set a total of $46.6 billion as a part of the emergency aid for rental assistance programs. However, the government has been pretty slow to deliver the money when the need has come up. 

In order to qualify for this money, you need to make sure that your income doesn’t exceed 80% of your local area’s median income. There are also a few other requirements in place- one of which is dependent on income- and the other regarding where you live. Also, recipients of this stimulus check money should have visible evidence of financial hardship that has cropped up due to the pandemic.

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