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What you need to know about the fourth stimulus payment?

What you need to know about the fourth stimulus payment

With the arrival of December, the delivery of the third stimulus check to U.S. citizens is about to end.

Taxpayers have lobbied Joe Biden’s administration for a fourth payment to help them financially, however, even though more inconveniences arose in the pandemic the aid was not approved but everything may change with the new mutations that may occur.

So far, $3,200 has been awarded in three stimulus checks since the pandemic began, however, economic problems continue with the appearance of new mutations.

Possible Date, Amount and Beneficiaries of the Fourth Stimulus Check

The U.S. Congress has not yet put a fourth stimulus check on the table for discussion, but has offered several proposals to help taxpayers.

On March 30, 2021, several members of Congress, led by Ilhan Omar of Minnesota, will introduce a proposal that subsequently called for $2,000 per month checks.

While the Ways and Means Committee called for the same amount, but in recurring payments to help people until the pandemic is over.

Would the Omicron variant hasten approval of a Fourth Stimulus Check?

The new variant of the pandemic has put governments around the world on edge as it threatens to increase infections in winter, so it is possible that confinements could be seen again, and if quarantined again and the economy is shut down, we may see a fourth stimulus check from the government.

Third Stimulus Check Mailing Date and Plus-Up Payments

The Internal Revenue Service has set a December 31 deadline for the last stimulus checks to be sent to all taxpayers who have not received them. To find out the status of the Third Stimulus Check mailing, one must log into the ‘Get My Payment’ application on the IRS website to check the status.

If you ordered the check in paper form, you should go to the USPS Informed Delivery page where you will know the exact date of its arrival.

On the other hand, the so-called Plus-up Payments continue to be sent, which are aimed at people who received less money in the third stimulus check and who, thanks to their statement, proved that they deserved more.

IRS: Child Tax Credit – Update

It should be remembered that President Joe Biden granted the American Rescue Plan which included support for all dependents under the age of 17. The payment was $300 for families with children under the age of six or $250 per month for children between the ages of 7 and 18.

The last payment due in 2021 will be December 15, however, the other half of the Child Tax Credit will be paid in 2022.

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