finance General News US

IRS To Give 9 Million People Federal Stimulus Checks!

Stimulus Check
via Kiplinger

The IRS plans to give people the money back they paid through the taxes by providing $1200 for single taxpayers, $2400 for married couples, and $500 per child under 17 years old. But their citizens who don’t pay taxes due to low income and being senior citizens. The IRS commissioner said:

“They are doing this to help the Americans who have lost their jobs and are sitting at homes pandemic.”

Also, Read Elon Musk Is Out From The Centibillionaire Club After Losing $16.3 Billion!

Stimulus Check 2020
via USATODAY.com

Terms And Conditions

The benefit will be for the ones who fall under specific criteria as if they are a citizen and has valid social security numbers. The registration is to be made before October 15 and will have to give account details. Those who don’t provide the bank details will not receive a check.

Some citizens might register, but there is no guarantee if they are immigrants without green cards and those who got incarcerated. And also people with income more than $99,000 and married couples earning $198,000 are excluded from this payment.

What’s More?

In the Senate Meeting this week, Congressional and White House leaders proposed a ‘Skinny Bill’ talking about benefiting the citizens with a second federal stimulus check. The price decided for the new aid package is about $1 trillion, while the bill may not pass for the double stimulus check for another economic rescue package.

Firstly there was a limit to the number of children, but now there is no limitation to the number of children if they are 17. There are three ways the IRS can give you the direct money deposit, a paper check through the mail, and EIP card (Economic Card Payment) which are prepaid and can be used generally as cash.

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Ritika chaudhary

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