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Latest IRS Update: Fourth Stimulus Check And Other Cash Assistance From Different States

The three rounds of stimulus checks in the United States have helped many families with the financial constraints brought about by the COVID-19 pandemic. Eligible adults received a maximum of $3,200 from the government, and children received up to $2,500. However, the chances of having a fourth stimulus check are slim.

However, White House Press Secretary Jen Psaki has said that President Joe Biden would most likely approve a financial aid program that would be most effective for the short term only. His statement contrasts the ongoing lobby for the $2,000 recurring check for families until the end of the pandemic.

In March, a group of lawmakers asked Biden to approve this regular stimulus package, but the administration did not release any statement regarding it yet. In May, the House Ways and Means Committee also proposed a similar request, noting that the administration should grant such support because of Americans’ increased poverty and spiraling debt. Likewise, the Biden administration did not have any comment on it.

The $2,000 monthly recurring stimulus check petition has already collected more than 2.85 million signatures. The petition said that the economic recovery did not reach many Americans hence the need “for immediate checks and recurring payments so that ‘we can keep our heads above water.’”

Recently, the Senate agreed on the $1 trillion bipartisan infrastructure deal. However, it did not talk about childcare, improved wages, or job training to help Americans during this time. A $3.5 trillion federal budget package is likewise in the works. Once approved, it would be up to local governments to authorize aid to their people.

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Biden, however, called on Congress to extend the expanded child tax credit until 2025. Senators also continue to look for ways to increase the minimum wage. The current minimum wage is $7.25 per hour, and many proponents hope it can be $15.

Currently, stimulus checks from the third round and advance child tax credit payments are still being rolled out. The child tax credit payments can amount to as high as $3,600 for each child. However, partial payment released per child is limited to a maximum of $300 monthly until the final payment in 2022. The third stimulus check, which could amount to as much as $1,400, is still going out in batches.

California started distributing the Golden State Stimulus checks this September. Eligible citizens can get $600 to $1,100. Other states will give out $1,000 “thank you” payments to teachers and school staff. The participating states for the “thank you” payments are California, Colorado, Florida, Georgia, Tennessee, and Texas.