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Sunday, August 7, 2022

Stimulus Check- A Detailed Overview 

Since the coronavirus started affecting the United States of America, the IRS department has been busy distributing the stimulus checks to eligible citizens. Millions of people have received their share of the money. The first two rounds of the relief aid were provided during Donald Trump’s administration, the former President of the country. And the rest was distributed under the name of Joe Biden, the current President. The total amount of the first two checks was 1200 USD and 600 USD respectively. 

Stimulus Check Background

The origin of the second round of money that was distributed is the CARES Act. This was approved in the month of March last year. It took a span of nine months for the government in order to approve the second batch of the stimulus checks. Following that the bill concerning the relief aid was made into a law in the month of December the same year. The first batch of the checks was generated from the month of April last year. A total of 160 million people received it. In the second round of the stimulus checks, about 147 million checks were generated.

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When it came to the distribution of the third round, things got a little complicated. It was due to the tax season that was still going on. The dep[artment of the IRS was occupied with processing the tax returns for the year 2020. And so eventually, it became a factor in determining whether a person should receive the stimulus checks or not. Following this provision, those who had not filed for their taxes did not receive the payments. The IRS has a lot of work to do in sending the precise batch of checks to the citizens. A new batch of checks was generated by the department on the 21st of July.

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