![]() ![]() ![]() More than 20 senators - all Democrats - signed a March 30 letter to President Joe Biden in support of recurring stimulus payments, pointing out that the $1,400 payment being distributed by the IRS won't tide people over for long. That's prompting some lawmakers to call for a fourth stimulus check. "It'll take a lot to get everyone back to full employment." "One spouse may be fine or one partner is fine but the other is seeing an impact" on their income, said Charlie Wise, head of global research and consulting at credit-reporting agency TransUnion, although he noted the data show an improvement from a year earlier, when about half of households experienced a loss of income. And almost one-third of households continue to cope with reduced income due to the pandemic, according to a recent study from TransUnion. A quarter of Americans struggled to pay their household expenses in the previous week, according to Census survey data from June 23 to July 5. Many families continue to struggle with a financial hit to their income since the pandemic, with the unemployment rate standing at 5.9%, or still far higher than its pre-pandemic level of 3.5%. About 1 in 4 people on unemployment will lose their benefits from the early cutoff of jobless benefits, according to an estimate from the Century Foundation, a liberal-leaning think tank. The latest batch of checks comes as 26 states have or will soon end enhanced unemployment aid, cutting of millions of jobless workers from $300 in weekly jobless aid two months before the federal funding is due to expire. And another 900,000 payments were for plus-up adjustments for people who qualified for bigger checks based on recently processed 2020 tax returns, the IRS said. That's because the IRS prioritized sending checks to people who had already filed their 2019 or 2020 tax returns, since the agency was able to quickly verify eligibility based on income and also determine where to mail they checks or directly deposit the money in known bank accounts.īut some others, such as those who aren't required to file tax returns or who claimed adjustments on their payments, have had to wait for the IRS to process their payments.Īmong the 2.2 million payments are 1.3 million checks sent to people who recently filed a tax return and for whom the tax agency didn't previously have enough information to issue the money. While most people do not need to do anything in order to get a stimulus check, the IRS is urging some people to file a tax return in order to receive the money for which they are eligible.While the latest stimulus payments began hitting bank accounts in March, some people have had to wait weeks or months for their checks. People who receive VA benefits and do not typically file tax returns could get their payments by mid-April, the IRS estimates. The IRS is continuing to work on getting stimulus checks to Veterans Affairs beneficiaries. Most of the payments are slated to officially be received by direct deposit on April 7. The IRS began issuing payments to those people over the weekend. That includes Social Security, Supplemental Security Income and Railroad Retirement beneficiaries. More payments are also underway to federal beneficiaries who neither filed tax returns in 2019 or 2020 nor used the IRS' non-filer tool last year. Prior to this third batch of payments, the IRS sent checks to people who had either filed 2019 or 2020 tax returns, or who had submitted their information to the IRS last year through its non-filer tool online. Personal Loans for 670 Credit Score or Lower ![]() Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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