![]() ![]() Who Is Eligible for a Third Stimulus Check? If the IRS has received as well as processed the tax return of a taxpayer in 2020, then the agency will make the calculations based on that. The third round of stimulus checks being sent will be calculated based on the latest processed tax return of the taxpayer, be it 2019 or 2022. They will also receive $1,400 for each one of the qualifying dependents mentioned on their tax return. Generally speaking, people will get somewhere around $1,400 for themselves on this third round of stimulus checks. Starting in 2021, stimulus checks were sent to the taxpayers so that they could give the economy a boost. A second stimulus check was also given over the second half of 2020, to aid in the COVID-19 pandemic.Įnter the third round of stimulus checks. Since people were no longer buying that much, the economy reached a low point. With the Coronavirus pandemic and lockdowns closing multiple businesses and preventing people from getting out of their houses (some even losing their jobs), people no longer felt they had too much money to spend anymore. Often, stimulus checks are given during times when the economy finds itself at a standstill. What Is the Third Round of Stimulus Checks Being Sent? However, in its absence, taxpayers can also receive stimulus checks in the mail. If the taxpayer has a recorded debit card, then they will receive their money into that account. That being said, stimulus checks were used during the Great Depression as well – a moment when the economy also found itself at a standstill. Stimulus checks can be larger federal packages, as it was with the apparition of the 2020 CARES Act. Once the consumers spend this money, it will boost the consumption and drive revenue towards manufacturers and retailers – therefore, giving the economy a boost. These checks have the purpose of stimulating the economy, giving consumers some extra money that they can spend. When Is the IRS Deadline to Send New Stimulus Checks?Ī stimulus check is an amount of money sent by the U.S.When to Expect Your Third Stimulus Check.Who Is Eligible for a Third Stimulus Check?.What Is the Third Round of Stimulus Checks Being Sent?. ![]()
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