4th stimulus check? Here’s how more payments could arrive in 2021



Since the American Rescue Plan was passed in March, the IRS has sent out nearly $380 billion in stimulus check money, including money for those who qualify for “plus-up payments.” But Washington lawmakers are already looking for more ways to send funds to individuals and families. Working with President Joe Biden, Congress is planning to help struggling Americans by sending out more payments between this year and next. (States are too, with California sending out its Golden State checks.) On the table is a fourth stimulus check that would send more money to those most in need once the $1,400 payments are complete. That fourth payment could also take the form of recurring payments.

In March, a group of 10 progressive lawmakers, including Sens. Elizabeth Warren and Bernie Sanders, asked Biden to include regular stimulus payments (PDF) in his next stimulus bill: “We urge you to include recurring direct payments and automatic unemployment insurance extensions tied to economic conditions in your Build Back Better long-term economic plan.” A few weeks later, another group of 21 Democrats made a similar request to Biden.

The third stimulus check will help the economy to grow rapidly, yet unevenly, economists say, with some cities projected to hurt for “decades,” even with COVID-19 vaccinations on the upswing and the US economy showing glimmers of hope. Would more direct payments arrive in a different form other than a stimulus check? We spell out some possibilities below. Additionally, here’s how to track your payment and contact the IRS if there’s a problem. Also, here’s how to calculate your child tax credit. This story is updated frequently.

 Another stimulus bill is already in the works. Will it contain a fourth stimulus check?

Biden’s American Rescue Plan that passed in March is the first spending package in 2021, with $1,400 checks$300 extra in weekly unemployment benefits and an expanded child tax credit lined up. (See if you qualify for the recurring child tax credit payments.) The Biden administration is working on a sequel, a package the president refers to as the Build Back Better plan. That proposal aims to invest in the nation’s energy grid, transportationbroadband and water systems and may not include stimulus checks, despite the urging of progressive senators...Read more>>

Source:-cnet

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