Know that to date, the Internal Revenue Service and the Treasury Department have disbursed one hundred sixty-four million coronavirus stimulus checks under President Joe Biden’s American Rescue Plan.
While it is indeed true that this current third round of stimulus is winding down fast—just 15 percent of the total number of checks have yet to be sent out—make sure to keep an eye out for other government-issued cash windfalls.
In what already has been tabbed as a “fourth” stimulus check, keep in mind that beginning in July, millions of eligible parents will be able to get their hands on a $250 or $300 payment each month under the expanded child tax credit.
Furthermore, take note that thousands of “plus-up” or supplemental checks are still heading out to eligible Americans. The IRS says that these funds are “for people who earlier in March received payments based on their 2019 tax returns but are eligible for a new or larger payment based on their recently processed 2020 tax returns.”
For example, it “could include a situation where a person’s income dropped in 2020 compared to 2019, or a person had a new child or dependent on their 2020 tax return, and other situations.”