Another year has passed since the pandemic wreaked havoc across the globe. The United States of America is doing its best to revive its economy. They hope to bring financial stability to their citizens.
As the new variant of COVID is spreading, citizens are wondering how they’ll make ends meet. The situation is under crisis with a number of cases feared to be on the rise again. Washington DC is not expected to hand out more stimulus checks because of the consequent rise in inflation. The third round of stimulus checks will probably be the last covid-19 relief aid.
The government will redirect the remaining COVID relief to certain groups. Out of the several groups, one will receive stimulus checks in 2022. The checks will help the group’s households to pay bills or their debts.
Stimulus Checks To 2021 Babies
Presently, the US government is giving out stimulus checks to select workers. Certain states are using some amount of national relief to give bonuses to educators. While others are giving stimulus payments to the ones who meet the income requirements.
The newest group that qualifies for the checks is 2021 babies. Every baby that is born this year will receive $1400. The third round of stimulus checks will be given to the parents. To be eligible a married household should earn $150K or $75K for a single household.
While filing taxes eligible parents are to notify the IRS of their 2021 born baby/babies. Eligible households who have not applied earlier for the modified children tax credit will receive a $3600 credit in 2022. The modification is a portion of the US government’s relief package.