When are we getting our stimulus checks?
The question of when Americans will receive their stimulus checks has been a top priority for many during the ongoing COVID-19 pandemic. With the economy taking a hit and millions of people facing unemployment, these checks have become a lifeline for many families. In this article, we will explore the history of stimulus checks, the current status of the latest round, and what you can do to stay informed about when you can expect your payment.
History of Stimulus Checks
Stimulus checks, also known as economic impact payments, have been a part of American economic policy since the Great Depression. The first iteration of these checks came in 1935, when President Franklin D. Roosevelt signed the Emergency Relief Appropriation Act. The goal was to provide financial assistance to struggling Americans and stimulate the economy.
Over the years, stimulus checks have been used in various economic downturns, such as during the financial crisis of 2008. The COVID-19 pandemic has once again brought stimulus checks to the forefront, with several rounds of payments being distributed to help mitigate the economic impact of the virus.
Current Status of Stimulus Checks
The latest round of stimulus checks was authorized as part of the Consolidated Appropriations Act of 2021, which was signed into law on December 27, 2020. This round of checks provided $600 to eligible individuals, including those who did not receive the previous rounds of payments.
However, the process of distributing these checks has been anything but smooth. The IRS has faced challenges in identifying eligible recipients and ensuring that they receive their payments in a timely manner. Additionally, the eligibility criteria have been a source of confusion for many Americans.
When to Expect Your Stimulus Check
The answer to the question “when are we getting our stimulus checks” varies depending on several factors, including your filing status, age, and whether you have direct deposit information on file with the IRS. Generally, eligible recipients can expect to receive their stimulus checks within three to four weeks after the IRS has processed their information.
If you have not yet received your stimulus check, there are a few steps you can take to ensure that you are eligible and to speed up the process:
1. Check your eligibility: Make sure you meet the criteria for receiving a stimulus check, including your filing status, income, and age.
2. Update your information: If you have not already done so, provide the IRS with your direct deposit information to ensure a faster payment.
3. Monitor your bank account: Keep an eye on your bank account for any activity related to your stimulus check.
4. Contact the IRS: If you have not received your stimulus check within the expected timeframe, you can contact the IRS for assistance.
Conclusion
The question of when we are getting our stimulus checks remains a top concern for many Americans. While the process has been fraught with challenges, there are steps you can take to ensure that you receive your payment as quickly as possible. Stay informed about the latest updates from the IRS and keep an eye on your bank account to ensure a smooth and timely distribution of your stimulus check.
