The proposed stimulus checks are part of COVID-19 relief bill that was rejected by The Senate at the time of publishing this post.
Seriously, is there a better way to get by during this pandemic, while all the politicians go back and forth taking hostage the American population?
It's like dangling a carrot at a donkey. It makes it move, but it's cruel if you don't end up giving it.
What you need to know about your stimulus check in a nutshell.
When the new complicated piece of legislation is signed and authorizes a $600 or $2000 or something in between, check to be deposited to your account; will it come come with certain conditions?
Is it yours to spend, save, invest or donate because it is not a loan. Is the IRS, Internal Revenue Services, expecting you to pay that amount back?
Well, there is this:
"Nothing in life is free." Not very motivating knowing that this it isn't a fact; but let's consider this for the sake of this blog entry.
You won't have to pay it back. In the event that you qualify to get it and you end up receiving it. The qualification is based on how much you earn. For example for the first stimulus check sent in 2020, it depended on your tax return of 2018 or 2019.
If your gross income was below $75,000, you'll get $1,200. If you and your spouse bring an adjusted income of $150,000, you'll get $2400.
What about the children? I'm glad you ask. Every qualified teen under 17, gets $500.
The payments decrease by $5 for every $100 dollars above the $75,000 / $150,000
You don't need to brave the cold and wait for days as if you would like to get a good spot at a BTS or Karry Wang Junkai of TFBOYS, concert.
Most banks have a button you can't miss, when you login to your online app. Or simply use the IRS tracking tool. If the IRS, doesn't have that record on file it might say "Pending."
You can speedup the process by submitting your banking information. The paper check version uses snail mail; you do the math.
Let see what some other countries have given their citizens monthly in comparison, shall we?
Amount equivalent in dollar currency per month:
Hong Kong: $1280
Germany: + - $7300
France: + - $7500
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