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Stimulus Check Update: Are You Among The 50,000 Who Will Get Stimulus Check From IRS?

Stimulus Check
Source: Forbes

Stimulus Checks Come To The Rescue Of Americans Post Coronavirus

Stimulus Check Update Are You Among The 50,000 Who Will Get Stimulus Check From IRS!: There is no doubt that coronavirus has changed the way we live. We all have sadly reached a life where people have to leave their house wearing a sanitizer and carrying a sanitizer. However, the lockdown and various other restrictions have closed down the income of many people.

Moreover, companies also resorted to laying off people due to a lack of revenue. Some families were barely managing to survive and went further down with coronavirus. However, the government decided for a Stimulus check to all Americans to give them some relief.

Stimulus Check
Source: Forbes

IRS All Set To Release 50,000 Stimulus Checks

The first stimulus check started entering the accounts of Americans in March under the CoronavirusΒ  Aid, Relief, and Economic Security Act or CARES Act. The IRS gave out as many as 160 million checks that helped people to a significant extent.

However, people didn’t know the virus would stretch to this extent and what happened in March was just the start. However, IRS is going to release 50,000 more stimulus checks which got withheld wrongly before. Therefore, 50,000 will get the necessary aid which they did not in March.

Why Did IRS Withhold 50,000 Stimulus Checks

The reason for withholding the checks traces back to the loopholes in CARES Act. The IRS withheld the stimulus checks from 50,000 people as they were due to pay for child support. Due to lag in paying child support, IRS stalled payment of many individuals.

As per the rules, individuals with an annual salary below $75000 got paid $1200 while married couples below $1,50,000 got $2400. However, there are many more intricate rules which did not go down well with citizens.

Stimulus Check
Source: CDN

What Does IRS Have To Say About The Withheld Stimulus Checks

IRS made an official announcement regarding the withheld checks and the decision to pay what is due to them. It said:

β€œThe Internal Revenue Service will soon send catch-up Economic Impact Payment (EIP) checks to about 50,000 individuals whose portion of the EIP was diverted to pay their spouse’s past-due child support.”

 

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