When did we receive stimulus checks has been a common question among many Americans during the COVID-19 pandemic. With the aim of providing financial relief to individuals and businesses affected by the economic downturn, the government implemented stimulus checks as part of the relief package. This article will delve into the timeline of when these checks were received by eligible recipients.
The first round of stimulus checks, commonly referred to as Economic Impact Payments, was authorized by the CARES Act in March 2020. These checks were intended to provide immediate financial assistance to individuals and families facing economic hardship due to the pandemic. The IRS began distributing these checks in April 2020.
When did we receive stimulus checks for the first round?
The majority of eligible individuals received their first stimulus checks by the end of April 2020. The IRS used information from taxpayers’ 2018 or 2019 tax returns to determine eligibility and the amount of the payment. Those who had already filed their taxes for the year received their checks more quickly, as the IRS had their financial information on hand. However, individuals who had not yet filed their taxes faced a longer wait, as the IRS needed to gather their information before issuing the checks.
When did we receive stimulus checks for the second round?
The second round of stimulus checks, authorized by the Consolidated Appropriations Act 2021, was distributed in December 2020. This round of checks aimed to provide additional financial support to individuals and families as the pandemic continued to impact the economy. Similar to the first round, the IRS used tax return information to determine eligibility and the amount of the payment.
When did we receive stimulus checks for the third round?
The third round of stimulus checks, authorized by the American Rescue Plan Act of 2021, was distributed in March 2021. This round of checks aimed to provide further financial assistance to individuals and families, as well as to support the overall economic recovery. The IRS again used tax return information to determine eligibility and the amount of the payment.
When did we receive stimulus checks for the fourth round?
The fourth round of stimulus checks, also authorized by the American Rescue Plan Act of 2021, was distributed in March 2021. This round of checks aimed to provide additional financial assistance to individuals and families, as well as to support the overall economic recovery. The IRS continued to use tax return information to determine eligibility and the amount of the payment.
When did we receive stimulus checks for the fifth round?
The fifth round of stimulus checks, authorized by the Infrastructure Investment and Jobs Act, was distributed in June 2021. This round of checks aimed to provide further financial assistance to individuals and families, as well as to support the overall economic recovery. The IRS continued to use tax return information to determine eligibility and the amount of the payment.
In conclusion, the timing of when we received stimulus checks varied depending on the round and individual circumstances. While the majority of eligible individuals received their checks within a few weeks of the announcement, some faced delays due to various factors, such as tax filing status and the IRS’s processing time. As the pandemic continues to evolve, it is essential for individuals to stay informed about future stimulus checks and their eligibility.
