Add news
Ichigo Tanuki x Angels - Gimme! Gimme! Gimme! (ABBA cover)
Russian.city
March 2010
April 2010
May 2010June 2010July 2010
August 2010
September 2010October 2010
November 2010
December 2010
January 2011
February 2011March 2011April 2011May 2011June 2011July 2011August 2011September 2011October 2011November 2011December 2011January 2012February 2012March 2012April 2012May 2012June 2012July 2012August 2012September 2012October 2012November 2012December 2012January 2013February 2013March 2013April 2013May 2013June 2013July 2013August 2013September 2013October 2013November 2013December 2013January 2014February 2014March 2014April 2014May 2014June 2014July 2014August 2014September 2014October 2014November 2014December 2014January 2015February 2015March 2015April 2015May 2015June 2015July 2015August 2015September 2015October 2015November 2015December 2015January 2016February 2016March 2016April 2016May 2016June 2016July 2016August 2016September 2016October 2016November 2016December 2016January 2017February 2017March 2017April 2017May 2017June 2017July 2017August 2017September 2017October 2017November 2017December 2017January 2018February 2018March 2018April 2018May 2018June 2018July 2018August 2018September 2018October 2018November 2018December 2018January 2019February 2019March 2019April 2019May 2019June 2019July 2019August 2019September 2019October 2019November 2019December 2019January 2020February 2020March 2020April 2020May 2020June 2020July 2020August 2020September 2020October 2020November 2020December 2020January 2021February 2021March 2021April 2021
123456789101112131415161718
19
20
21
22
23
24
25
26
27
28
29
30
News Every Day |

Fourth stimulus check: Another payment could lift millions out of poverty

Fourth stimulus check: Another payment could lift millions out of poverty

(NEXSTAR) -- A fourth stimulus check could lift over 7 million people out of poverty, according to new analysis from the Urban-Brookings Tax Policy Center.

According to the study, the third stimulus check that was part of the American Rescue Plan will reduce the number of people in poverty by 11.4 million.

"Another round of payments could lift an additional 6.6 to 7.3 million people out of poverty, depending on whether the payment was restricted to citizens or made available to everyone," the group wrote in its official report.

The number of people impacted by a potential fourth stimulus payment would also depend on the timing of an additional payment being approved.

Millions of people have already received their third stimulus check, but others are still waiting, and there are a few reasons why. The Internal Revenue Service (IRS) started processing payments in March and some people got them just a few days later via direct deposit.

On March 19, payments based on both 2019 and 2020 tax returns began being issued to those with and without direct deposit information on file. The IRS said that process will continue throughout the year.

With over 18 million people still receiving unemployment, some economists say additional stimulus payments might be needed this year to boost the economy.

As the latest federal direct payment has hit most bank accounts some people are wondering if there will be a fourth stimulus check coming later this year.

“More direct stimulus payments are certainly possible,” Peter Earle, an economist at the American Institute for Economic Research, told Acorns/CNBC.

David Blanchflower, who teaches economics at Dartmouth College, also told CNBC the enacted stimulus package likely "won't be enough" and said more stimulus could come later.

"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," the Urban-Brookings Tax Policy Center wrote in its report.

While it remains unknown if there will be additional stimulus payments, the increased Child Tax Credit will provide monthly payments to people who qualify.

Child Tax Credit increased for 2021

For this year only, the child tax credit has increased from $2,000 per child to $3,000 per child. Parents of children under age 6 would be eligible for an even larger $3,600 total credit. The plan also includes $3,000 benefits to the parents of 17-year-olds who meet plan qualifications. Previously children had to be 16 or younger.

The child tax credit has increased from $2,000 per child to $3,000 per child. Parents of children under age 6 would be eligible for an even larger $3,600 total credit.

The plan also includes $3,000 benefits to the parents of 17-year-olds who meet plan qualifications. Previously children had to be 16 or younger. The credit is also fully refundable.

For the standard $2,000 child tax credit, the phase-out starts at $400,000 if filing jointly. According to the relief plan signed earlier this month, the additional credit will phase out for single filers at $75,000 and joint filers at $150,000.

When will Social Security Recipients, SSI, and SSDI receive their stimulus check?

The Social Security Administration transmitted payment information for nearly 30 million to the IRS to get stimulus checks out the door after several Congressional leaders said they were "alarmed" at the lack of payments.

Many non-filers who receive benefits from SSI (Supplemental Security Income) and the Railroad Retirement Board have also not received their checks and are part of the April 7 rollout. Those beneficiaries of Veterans Affairs, however, are still going to have to wait for their checks, the IRS said.

Already about 90 million people have received their third wave of stimulus checks, according to a joint letter to the heads of the Internal Revenue Service and Social Security Administration.

You can check the status of your payment using the IRS Get My Payment Tool.





Read also

The Tilehurst End Podcast Episode 261: Mission Impossible

“We play with 10” – These Barcelona fans aren’t happy with Koerman’s line-up to face Athletic Bilbao tonight

Teen Mom Jenelle Evans shows off curves in a swimsuit top after ex Kieffer Delp tells fans ‘stop hating on my b***h!’





News, articles, comments, with a minute-by-minute update, now on Today24.pro



Today24.pro — latest news 24/7. You can add your news instantly now — here
News Every Day

What is KILLING your hair and NO ONE is talking about it! - Kayley Melissa