When were the stimulus checks sent out? This has been a common question among Americans during the COVID-19 pandemic. The government has issued multiple rounds of stimulus checks to provide financial relief to individuals and families affected by the economic downturn. Understanding the timeline of these checks can help individuals plan their finances and keep track of the support they are receiving.
The first round of stimulus checks, known as the CARES Act, was signed into law on March 27, 2020. These checks were sent out to eligible individuals and families in the weeks following the bill’s passage. The IRS began distributing the checks on April 15, 2020, and the majority of eligible recipients received their payments by the end of April.
For the first round of stimulus checks, eligible individuals received $1,200, and married couples filing jointly received $2,400. Additionally, qualifying children under the age of 17 were eligible for an additional $500 each. The IRS used the information from taxpayers’ 2019 tax returns, or their 2018 returns if they had not yet filed for 2019, to determine eligibility and the amount of the payment.
The second round of stimulus checks, known as the Economic Impact Payment (EIP) Act, was signed into law on December 27, 2020. This round of checks aimed to provide further financial support to Americans amidst the ongoing pandemic. The IRS began sending out these checks on January 6, 2021, and the majority of eligible recipients received their payments by the end of January.
For the second round of stimulus checks, eligible individuals received $600, and married couples filing jointly received $1,200. Similar to the first round, qualifying children under the age of 17 were eligible for an additional $600 each. The IRS again used the information from taxpayers’ 2019 or 2018 tax returns to determine eligibility and the amount of the payment.
The third round of stimulus checks, known as the American Rescue Plan Act, was signed into law on March 11, 2021. This round of checks aimed to provide additional financial support to Americans, including those who were not eligible for the previous rounds. The IRS began sending out these checks on March 12, 2021, and the majority of eligible recipients received their payments by the end of March.
For the third round of stimulus checks, eligible individuals received $1,400, and married couples filing jointly received $2,800. Eligibility for children under the age of 17 was expanded, and the IRS also included eligible dependents over the age of 17 for the first time. The IRS used the information from taxpayers’ 2020 tax returns, or their 2019 returns if they had not yet filed for 2020, to determine eligibility and the amount of the payment.
Understanding the timeline of when the stimulus checks were sent out can help individuals manage their finances and ensure they receive the support they need during these challenging times. As the pandemic continues to impact the economy, it is crucial for Americans to stay informed about the latest developments and eligibility requirements for future stimulus checks.
