Third stimulus check – what you need to do to get your $1,400 payment after $1.9T Covid relief bill passed
MILLIONS of Americans are eager to receive a third stimulus payment after the $1.9trillion Covid relief bill has passed.
President Joe Biden confirmed during a press briefing on Saturday that Americans could start receiving their $1,400 stimulus this month after the Senate passed the Covid relief bill.
“When we took office 45 days ago, I promised the American people that help was on the way,” he told reporters.
“Today, I can say we’ve taken one more giant step forward in delivering on that promise that help is on the way.
“I want to thank all of the senators who worked so hard to reach a compromise and do the right thing for the American people during this crisis.
“This plan will get checks out the door starting this month to the Americans that so desperately need the help.”
Biden said the negotiating process wasn’t “always pretty” but praised the senators for passing the piece of “urgent” legislation.
After an all-night voting session, exhausted senators approved the relief package by 50-49 which sets up congressional approval by the House next week, meaning lawmakers can send it on to Biden’s desk for the presidential signature.
The third payments are the largest of the payments sent to Americans under relief packages over the last year.
IRS has said it will issue information on the distribution of the checks, once the bill is passed by Congress and signed into law by President Biden, reports Washington Post.
Payments will be based on the 2019 or 2020 federal return and are expected within the month.
Back in December, payments to eligible Americans were made shortly after the second stimulus package was signed into law so a similar timeline is expected in this case as well.
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Those who have high income based on AGI but believe they might be eligible due to their circumstances, they need to file their tax return as soon as possible.
People who earn $75,000 or less will receive the full amount while Americans who earn $80,000 a year or more don’t qualify for the full payment and neither do couples making $160,000+ per annum.
The package also ups emergency unemployment benefits and spending for Covid-19 testing, along with tax breaks to help people earning less.