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Stimulus check latest updates – Fourth check could be included in Biden’s next relief package

A FOURTH round of stimulus payments could be included in President Joe Biden's next coronavirus relief package.

Biden is currently working on two stimulus proposals, which currently focus on creating jobs and supporting families respectively.

However, many are hopeful that additional stimulus checks and student loan forgiveness will also make the cut.

In his speech to the joint session of Congress last week, President Biden praised the impact of stimulus checks but did not comment on whether there would be more of them in the future.

"We kept our commitment — Democrats and Republicans — of sending $1,400 rescue checks to 85 percent of American households," Biden said. "For many people, it’s making all the difference in the world."

The IRS is still sending out the third round of stimulus checks, and many Democrats are pushing for more checks in the future.

The American Family Plan would set aside $1 trillion for education, affordable child care and paid family and medical leave. Some are keeping an eye on this plan to see if a fourth stimulus check is eventually included.

Biden's American Jobs Plan would inject $2 trillion into the US economy to create infrastructure jobs. There are no plans yet for it to include stimulus checks.

Read our stimulus live blog for the latest on Covid relief money...

  • CALIFORNIA SENDS OUT $1.8 BILLION IN STIMULUS CHECKS

    The state of California has sent out more than 2.5 million stimulus checks since April 15.

    The Golden State Stimulus created a statewide direct payment plan that enabled the Franchise Tax Board to send out $600 or $1,200 payments to eligible individuals. 

    The program is designed to help low-income Californians and those who weren't eligible to receive the direct payments passed by Congress under the America Rescue Plan.

    "We passed the recovery package to get money into the pockets of Californians who were hit hardest by this pandemic, and that's exactly what the Golden State Stimulus is doing—already getting $1.6 billion to 2.5 million Californians," Governor Gavin Newsom said in a statement.

  • NEXT STIMULUS PACKAGE COULD MEAN A FOURTH STIMULUS OR STUDENT LOAN FORGIVENESS

    President Joe Biden is working on two stimulus proposals that could potentially include more relief checks or cancellation of student loan debt.

    The President’s current proposals focus on creating jobs and supporting families, but more stimulus checks or student loan forgiveness could be included.

    The American Family Plan would set aside $1 trillion for education, affordable child care, and paid family and medical leave, and it could potentially eventually include a fourth stimulus check.

    Biden has also previously supported canceling $10,000 of student loans and that could also come up in a relief package.

  • WEST VIRGINIA GOV. WANTS TO GIVE PEOPLE STIMULUS TO GET VACCINATED

    West Virginia Gov. Jim Justice is planning to give young people in his state money to get the Covid-19 vaccine, saying the move is "patriotic."

    The state will give residents between the ages of 16 and 35 a $100 savings bond after Justice said they had "hit a wall" when it came to vaccination efforts.

    The reason we hit a wall is you've got 16 to 35-year-olds that are reluctant, you've got the Johnson & Johnson situation, and then, to be perfectly honest, you've got some hard-headed people," Justice told Yahoo! Finance last week.

    The governor said that the goal is to incentivize young people who may feel that they do not need the vaccine to help the state reach the goal of vaccinating 70 percent of its population.

  • HOW TO TRACK TAX REFUND

    In March, the Internal Revenue Service (IRS) extended the tax return deadline from April 15 to May 17.

    Yet it's a good idea to file your return sooner rather than later, as it'll ensure some Americans get a fourth stimulus check worth $1,400.

    The latest data by the IRS show that the average tax refund was $2,873 in the week to April 26, compared with $2,939 for those who filed online.

    It comes as almost 111 million tax returns have been filed so far, of which 73.3million households are due refunds.

    You can see where your money is 24 hours after you've filed your tax return by logging into the IRS’ Where’s My Refund tool.

    To do this, you’ll need to enter your Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN), which is shown on your tax return.

    You’ll also need to enter your filing status and refund amount shown on your tax return - make sure it’s the exact amount shown to get the most accurate information.

    You will then be taken to a page that will show you where your refund is.

  • PARENTS CAN GET $16k BACK IN CHILDCARE IN 2021 TAXES

    The American Rescue Plan, which was passed by lawmakers in March, features a temporarily expanded childcare tax credit.

    Parents can claim up to $8,000 for one child or up to $16,000 for multiple kids, claims Garrett Watson, senior policy adviser analyst at The Tax Foundation.

    Usually, parents can only claim $3,000 for one kid and up to $6,000 for two or more children, CNET reports.

    To qualify, your household’s gross income must be less than $125,000 otherwise the tax credit will phase out at 50 per cent.

    For incomes above $183,000, the tax credit phases out at 20 per cent and remains at that level for incomes below $400,000.

    The rate is phased out completely for households earning $438,000 and above.

    Parents will not be able to claim the deduction until next year when 2021 tax returns are filed.

    In the meantime, it's recommended that you complete a detailed record of all childcare expenses.  

  • PARENTS CAN GET $3,600 PER KID IN LUMP SUM

    Americans who would prefer to cash in their $3,600 child tax credit aid all at once can receive it with their 2022 tax refund.

    Once the IRS opens its portal on July 1, people can change their preferences of how often they receive the cash.

    For those who have had a baby this year or have gained a qualified dependent, the portal will also give you the option of adding this in to receive the correct amount of cash.

    However, if you do not update your information and file your taxes before May 17, then you will automatically be set to receive the monthly checks.

    Families who qualify for the credit can receive $3,600 for children 5 and under, $3,000 for children under the age of 17, and may qualify for a partial payment for those older than 17.

  • HOW TO GET $10,200 TAX BREAK IF YOU RECEIVED UNEMPLOYMENT

    If you received unemployment insurance benefits in the US in 2020 and paid taxes on the benefits, you may be eligible for an additional refund from the IRS.

    The American Rescue Plan Act included a $10,200 tax exemption that gives people who paid on those benefits a tax break on the unemployment benefits they received, at least for federal taxes.

    The IRS is set to refund money to people who filed their tax returns before the unemployment tax break changes in the Plan regarding the exempt UI taxes went into effect.

    If you are owed money thanks to this tax exemption and due to having already completed your tax return, the IRS will send you the money automatically.

    You do not need to file an amended return in order to get this potential refund.

  • HOMEOWNERS CAN GET $3k IN MORTGAGE RELIEF

    Homeowners can get more than $3,000-a-year in mortgage relief thanks to stimulus aid.

    The Mortgage Stimulus Program is designed to help average US citizens as well as stimulate the economy.

    Homeowners could get up to $307 a month, equivalent to $3,252 a year.

    The money can go towards various expenses such as home improvements, remodels, debt or other bills.

    Only single-family homes are eligible and apartments and mobile homes are excluded.

  • CONGRESS WILL DECIDE ON MORE STIMULUS

    White House Press Secretary Jen Psaki told reporters on Tuesday that Congress will decided whether or not to send hard-hit Americans more stimulus checks this year.

    Psaki said that more relief payments would be an expensive measure for the federal government.

    "We'll see what members of Congress propose, but those are not free," she said, touting the overhauled child tax credit in Biden's stimulus plan.

    This increased the amount to $3,600 for each child aged five and under, while parents of six to 17 year-olds would get $,3000 per child.

    Biden's $1.8 trillion economic plan stipulates that child allowance will continue through 2025.

    Psaki continued: "If passed, the families of tens of millions of children will continue to get regular payments.

    "Obviously, we're continuing to evaluate what their needs are — to continue to get the pandemic under control, put people back to work, but we think that's a proposal with a long-term benefit."

  • HOW TO TRACK YOUR STIMULUS CHECK

    The Internal Revenue Service has delivered more than 164 million payments, with a total value of approximately $386 billion, the agency said Wednesday.

    The latest wave of payments includes 1.1 million checks, which had an official payment date of May 5.

    That means the most recent recipients will receive a direct deposit on Wednesday, or soon get a paper check or pre-paid debit card in the mail.

    The IRS prioritized sending checks to people who have 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 or direct deposit the checks.

    For anyone still waiting on a payment, the IRS' "Get My Payment" tool on its website allows people to determine when they can expect to receive their check.

  • SOCIAL SECURITY BENEFICIARIES URGED TO FILE TAX RETURNS

    Americans who receive Social Security or Supplemental Security Income benefits have been urged to file their taxes as soon as possible in order to receive their stimulus funds.

    The announcement pertains to the first $1,200 and second $600 economic impact payments that were approved by Congress last year.

    Even for those with no income, a return should still be filed if you're missing those payments, the Social Security Administration said.

    Filing a tax return can also help the IRS process the third $1,400 checks the government is still sending out.

  • EARLY TAX FILERS MAY GET EXTRA CASH

    For Americans who filed their taxes early this year, extra cash may be on the way in the form of a bonus check or what's known as a plus-up payment.

    According to the IRS, Americans who received a stimulus check based on their 2019 tax returns might be eligible for more money once their 2020 return has been processed.

    The additional "plus-up payments" will be sent to those whose economic situations changed between 2019 and 2020.

    If their newest tax filing shows a drop in annual income or a new child or dependent, then more money could be on the way.

    This particularly applies to those who didn't qualify for the full $1,400 check in the third round of stimulus based on returns from 2019, but do for their 2020 returns.

    It will also apply to Americans who got married in 2020 and filed a joint return for the year, with an adjusted gross income of less than $150,000.

    If an individual wasn't required to file taxes in previous years but did this year, then more money may also be on the way for them too.

  • IRS SENDS 1.1 MILLION MORE PAYMENTS

    Nearly 1.1 million more stimulus checks were disbursed this week in the latest batch of payments, according to the Internal Revenue Service.

    That brings to the total number of payments issued in the third round of relief up to 164 million, including add-on payments for past stimulus checks.

    Approximately $386 billion in stimulus payments have been sent so far, about 86% of the $450 billion earmarked for stimulus payments.

    Of the latest checks, around 585,000 payments were sent to people who previously didn't have information on file at the IRS but recently filed a tax return.

  • WHO GOT A STIMULUS CHECK?

    Another 1.1 million stimulus checks were sent out in the eighth batch of Economic Impact Payments in Biden's rescue plan.

    The IRS confirmed on Wednesday around 164 million payments have been rolled out to eligible Americans. The eighth batch - worth $2billion - was processed on Friday with an official payment date of May 5.

    These were sent out to eligible people who didn't previously receive a relief payment.

    It also included plus-up payments for people who got the cash based on their 2019 tax returns but are owed a larger amount due to their recently processed 2020 tax returns.

  • HOLD ONTO BIDEN'S STIMULUS LETTER

    Americans should keep their stimulus letter from President Joe Biden.

    The Notice 1444-C provides proof that the IRS paid you (by check or direct debit) $1,400, which is vital if you didn’t receive it or got less than you’re owed and need to claim.

    If you haven’t gotten the cash but received the letter, check out the Get My Payment tool online or call a phone number at the bottom of the letter for more information.

    The IRS also advises Americans to hang onto the notice for their 2021 tax records if money is missing.

  • BIDEN WANTS TO EXPAND CHILD TAX CREDIT AID

    President Joe Biden has expressed that he would like to extend the child tax credit that saw families who qualified receive $3,600 for children 5 and under and $3,000 for children under the age of 17 in the midst of the Covid-19 pandemic.

    "The American Families Plan puts money directly into the pockets of millions of families," Biden told Congress during his joint speech to Congress last week.

    "Together, let's extend the Child Tax Credit at least through the end of 2025."

    Families that want their child tax credit aid in one lump sum rather than monthly payments can change their preferences on the IRS portal when it opens July 1 and receive the lump sum of relief.

  • PETITION CALLING FOR RECURRING STIMULUS CHECKS HITS 2MILLION SIGNATURES

    A petition calling for $2,000 stimulus checks every month until the end of the pandemic crisis has over 2 million signatures.

    The petition was started by Colorado restaurant owner Stephanie Bonin and first posted on Change.org last year.

    "I'm calling on Congress to support families with a $2,000 payment for adults and a $1,000 payment for kids immediately, and continuing regular checks for the duration of the crisis,” she wrote in the petition.

    "Otherwise, laid-off workers, furloughed workers, the self-employed, and workers dealing with reduced hours will struggle to pay their rent or put food on the table."

  • WILL BIDEN'S RELIEF PROPOSALS INCLUDE STUDENT LOAN CANCELLATION?

    President Joe Biden has previously supported canceling some student loan debt, and people are keeping an eye on his stimulus relief programs to see if loan forgiveness is included.

    Neither the American Jobs Plan or the American Families Plan currently includes student loan forgiveness, but Biden has previously supported forgiving $10,000 in student loans.

    The President recently asked his education secretary if he has the executive power to cancel up to $50,000 in student loan debt.

  • NEXT STIMULUS PACKAGE COULD MEAN A FOURTH STIMULUS OR STUDENT LOAN FORGIVENESS

    President Joe Biden is working on two stimulus proposals that could potentially include more relief checks or cancellation of student loan debt.

    The President's current proposals focus on creating jobs and supporting families, but more stimulus checks or student loan forgiveness could be included.

    The American Family Plan would set aside $1 trillion for education, affordable child care, and paid family and medical leave, and it could potentially eventually include a fourth stimulus check.

    Biden has also previously supported cancelling $10,000 of student loans and that could also come up in a relief package.

  • WHITE HOUSE WILL DETERMINE WHETHER OR NOT MORE RELIEF PAYMENTS ARE NEEDED

    During a press conference on Tuesday, White House Press Secretary Jen Psaki told reporters that more relief payments will be considered but would be an expensive move.

    "We'll see what members of Congress propose, but those are not free," she said, touting the new child tax credit in Biden's stimulus plan.

    When it comes to extending that credit, Psaki said, "Obviously, we're continuing to evaluate what their needs are — to continue to get the pandemic under control, put people back to work, but we think that's a proposal with a long-term benefit."

  • HERE'S WHY YOU MIGHT STILL BE WAITING FOR A THIRD STIMULUS CHECK

    If you still haven't received your third stimulus check, don't fret — the IRS is still sending some of them out to certain Americans.

    "If you haven’t received one yet, it doesn’t mean you won’t," the IRS website says.

    "Each week we’re sending the third payments to eligible individuals as we continue to process tax returns."

  • EXPERTS THINK AT LEAST ONE MORE STIMULUS CHECK IS NEEDED TO HELP STRUGGLING AMERICANS

    The Economic Security Project (ESP), which supports guaranteed income, said in a recent report that more direct stimulus payments are needed to aid those struggling financially as a result of the ongoing impacts of Covid-19.

    "We need at least one more check," Adam Ruben, campaign director at the ESP, told CNBC.

    The project said in its report, "This critical relief has played a leading role in helping Americans keep their heads above water during this recession."

  • AMERICANS SUPPORT RECURRING STIMULUS PAYMENTS, IS ANOTHER CHECK ON THE WAY?

    A January survey conducted by Data for Progress found that 65 percent of Americans support recurring monthly payments of $2,000 for the remainder of the pandemic.

    But President Joe Biden has not committed to sending out a fourth round of stimulus checks.

    Some Americans are still awaiting a third stimulus check, which the IRS says can still be claimed in they file with tax returns soon.

  • WHERE'S MY MONEY?

    Wondering where your third stimulus check is? Don't panic. The IRS is still sending them out, so you can expect yours to arrive soon.

    "If you haven’t received one yet, it doesn’t mean you won’t," the IRS website says.

    "Each week we’re sending the third payments to eligible individuals as we continue to process tax returns."

    Payments are sent by direct deposit or in the mail as a check or debit card.

    If you receive Social Security Disability Income (SSDI) or Supplemental Security Income (SSI), you may have already received your check. The IRS began sending out electronic payments on April 7 and paper checks on April 9.

  • CASH BONUS

    Early tax filers may be rewarded with with extra cash in the form of a "bonus check" or "plus-up payment" in the coming weeks.

    According to the IRS, Americans who received a stimulus check based on their 2019 tax returns might be eligible for more money once their 2020 return has been processed.

    The additional "plus-up payments" will be sent to those whose economic situations changed between 2019 and 2020.

    If their newest tax filing shows a drop in annual income or a new child or dependent, then more money could be on the way.

    This particularly applies to those who didn't qualify for the full $1,400 check in the third round of stimulus based on returns from 2019, but do for their 2020 returns.

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