It’s been a long wait, but the moment we’ve all been anticipating has arrived. The U.S. government has begun to distribute the third round of stimulus checks aimed at providing financial support to millions of Americans who have been adversely affected by the ongoing pandemic. So when was the third stimulus check be mailed, you ask? The Internal Revenue Service (IRS) started processing the payments in March 2021, and now, many eligible individuals have begun to receive their funds.
Certainly, many people have faced tremendous hardships as a result of the recent economic downturn brought on by the health crisis. The first and second stimulus checks provided much-needed relief, but for many, it was simply not enough. Fortunately, the latest round of payments, ranging from $1,400 to $2,800 per household depending on eligibility, was designed to bring greater financial stability to American families. Recent reports suggest that upwards of 160 million stimulus payments will be made by the IRS, including a significant number of direct deposits into bank accounts.
It’s important to understand that eligibility for the third stimulus check is based on a number of factors, including income level and tax filing status. If you’ve been anxiously waiting to receive your stimulus payment, you can visit the IRS website to track the progress of your payment. Remember that these funds are meant to alleviate some of the financial stress brought on by the pandemic, so if you’re eligible, be sure to make the most of this assistance to help you get through these trying times.
Status Updates on the Third Stimulus Check
Millions of Americans are eagerly awaiting the arrival of a third stimulus check, which was included in the American Rescue Plan Act of 2021. The first stimulus check provided up to $1,200 for individuals and $2,400 for couples, while the second stimulus check provided up to $600 for individuals and $1,200 for couples. The third stimulus check is providing up to $1,400 for eligible individuals, plus an additional $1,400 for each dependent.
- The IRS began issuing the third stimulus check via direct deposit on March 12, 2021. This includes Social Security and other federal beneficiaries who did not file a tax return in 2019 or 2020.
- Paper checks began mailing out on March 19, 2021.
- The IRS is also sending out prepaid debit cards, known as Economic Impact Payment Cards, to eligible individuals who do not have a bank account on file with the IRS.
It’s important to note that not everyone will receive a third stimulus check, as eligibility requirements have changed since the first two rounds of payments. Some of the key eligibility requirements for the third stimulus check include:
- Income limits: Individuals with an adjusted gross income of up to $75,000 and married couples filing jointly with an income up to $150,000 are eligible to receive the full amount of the third stimulus check.
- Phased-out payments: Payments will be gradually phased out for individuals with an income between $75,000 and $80,000, and married couples with an income between $150,000 and $160,000.
- Dependent eligibility: Dependents of all ages, including adult dependents, are eligible to receive the additional $1,400 payment.
If you’re still waiting for your third stimulus check, you can use the IRS’s “Get My Payment” tool to track the status of your payment. The tool will show you the date your payment was issued and whether it was sent via direct deposit, paper check, or EIP card. If you are eligible but have not received your payment by the time your tax return is due, you can claim the Recovery Rebate Credit on your tax return.
| Payment method | Estimated delivery time |
|---|---|
| Direct deposit | 2-4 business days after the payment is sent |
| Paper check | 2-4 weeks after the payment is sent |
| EIP card | 2-4 weeks after the payment is sent |
The third stimulus check is providing much-needed financial relief to millions of Americans during the ongoing pandemic. Keep checking the IRS’s website for updates on the status of your payment and reach out to a tax professional if you have any questions or concerns.
Delays in Stimulus Check Distribution
While the American Rescue Plan was enacted in March 2021, the distribution of the third stimulus checks has been a little delayed. The IRS initially said that they would start distributing stimulus payments ‘by the end of March’. However, the distribution process has not been as quick as expected as the IRS grappled with a backlog of unprocessed tax returns.
The IRS has also had to deal with the challenge of issuing stimulus payments to those without bank accounts and those who filed their taxes using a tax preparer like TurboTax or H&R Block that put their refund into temporary accounts used to facilitate the refund process. For these groups of people, the IRS needed to obtain correct mailing addresses and, in the case of those with tax preparers, obtain approval to send the payments to them directly.
Causes of Delay in Stimulus Check Distribution
- The IRS has been dealing with a backlog of unprocessed tax returns
- Issuing payments to those without bank accounts has proved to be a challenge
- Obtaining the correct mailing addresses has been an issue
Further Challenges
Another challenge that has arisen is the need to reconcile the third stimulus payment amounts with the taxpayer’s actual eligibility for the payment based on their 2020 tax return. The IRS rule states that they are to use the 2020 tax returns to calculate the payment amount. Still, if someone hasn’t yet filed their 2020 taxes, the IRS will use the 2019 tax return to calculate the payment – if it’s better for them. However, some taxpayers have received stimulus payments based on their 2019 tax return, which could result in them receiving either too much or too little payment.
The delay in processing stimulus payments has caused many people to experience financial hardship, which is why the IRS has been working tirelessly to speed up the distribution of payments. With the improvements made, the IRS can issue the payments more efficiently, and ultimately, people can receive their payments promptly.
Conclusion
The IRS has been working hard to ensure that eligible individuals receive their third stimulus payments as quickly as possible. Despite the numerous challenges faced in the distribution process, the IRS has continued to refine its systems for getting payments to those who deserve them without delay. While delays have been inevitable, the IRS’s efforts have ultimately led to more people receiving their payments as soon as possible.
| Causes of Delay | Impact |
|---|---|
| Unprocessed tax returns | Backlog and delays |
| Issuing payments to individuals without bank accounts | Additional steps required to complete the process |
| Obtaining accurate mailing addresses | Difficulty of information acquisition |
| Reconciling payment amount based on 2020 and 2019 tax returns | Inconsistent payment amounts for some individuals |
Despite these challenges, the IRS’s dedication has ensured that eligible Americans receive their payments as quickly as possible, as much of the backlog caused by the issues outlined above has been resolved.
Eligibility criteria for the third stimulus check
People all over the United States are eagerly waiting for their third stimulus check to arrive in the mail or to be deposited into their bank accounts. The eligibility criteria to receive the third stimulus check is similar to the first two rounds. Here’s what you need to know:
- Individuals earning up to $75,000 per year are eligible to receive the full $1,400 stimulus payment.
- Married couples earning up to $150,000 per year are eligible to receive the full $2,800 stimulus payment.
- Dependents, such as children and elderly adults, are also eligible to receive $1,400 each.
- Individuals earning between $75,000 to $80,000 per year and married couples earning between $150,000 to $160,000 per year are still eligible, but their payment will be reduced.
- Those who earn above the income thresholds will not receive a stimulus check.
Additionally, there are a few other eligibility criteria that could impact your ability to receive a stimulus check:
- You must have a valid Social Security Number (SSN) or an Individual Taxpayer Identification Number (ITIN) to be eligible for a stimulus check.
- You must not be claimed as a dependent on someone else’s tax return.
- You must have filed your 2019 or 2020 taxes, or used the non-filer tool provided by the IRS during the first two rounds of stimulus payments.
If you meet the eligibility criteria, you should expect to receive your third stimulus check in the coming days or weeks. If you have not received your payment by a certain date, you can check the status of your payment using the IRS’s Get My Payment tool.
For more information and updates on the third stimulus check, visit the official IRS website.
The Impact of the Third Stimulus Check on the Economy
The COVID-19 pandemic has had a devastating impact on the global economy. Millions of people lost their jobs, and businesses were forced to shut down. To minimize the negative impact on the economy, the government introduced the third stimulus check. This stimulus check is a one-time payment of up to $1,400 that is intended to help individuals and families get through the financial difficulties caused by the pandemic.
- The third stimulus check has boosted consumer spending. When people have extra money, they tend to spend it. This increased spending has helped stimulate the economy, as businesses are seeing a surge in demand for their products and services.
- The stimulus check has also helped individuals and families pay their bills and stay afloat during these difficult times. This has prevented many evictions, foreclosures, and bankruptcies that would have otherwise occurred without the stimulus.
- The third stimulus check has also helped reduce poverty. According to a recent study, the stimulus check has lifted over 11 million people out of poverty. This is a significant accomplishment, given the high poverty rates caused by the pandemic.
Overall, the third stimulus check has played an important role in mitigating the economic impact of the pandemic. However, much more needs to be done to ensure a full economic recovery. Additional stimulus measures, such as increased unemployment benefits, small business loans, and infrastructure investments, are needed to help boost the economy.
Below is a table summarizing the key economic impacts of the third stimulus check:
| Economic Impact | Description |
|---|---|
| Increased Consumer Spending | The stimulus check has boosted spending, which has helped stimulate the economy. |
| Financial Stability | The stimulus check has helped individuals and families pay their bills and stay afloat. |
| Poverty Reduction | The stimulus check has lifted over 11 million people out of poverty. |
It is important to remember that the economic recovery will take time, and more government interventions may be required in the coming months and years. However, the third stimulus check has demonstrated that government stimulus measures can be effective in mitigating the negative impact of a crisis on the economy and its people.
The Possibility of a Fourth Stimulus Check
As many Americans eagerly await the arrival of their third stimulus check, some are already looking ahead to the possibility of a fourth round of stimulus payments.
While nothing is certain, here are some key factors that could influence the likelihood of a fourth stimulus check:
- COVID-19 pandemic: The ongoing pandemic continues to impact the economy, leading some lawmakers to argue that additional relief is necessary to support struggling households and small businesses.
- Unemployment rates: Despite recent improvements in employment, some segments of the workforce – such as lower-wage workers and people with disabilities – continue to face high rates of joblessness.
- Pandemic-related expenses: The cost of childcare, medical bills, and other pandemic-related expenses continues to strain many households, even as the economy gradually reopens.
Of course, there are always potential obstacles to additional stimulus payments. Some lawmakers may worry about the costs of another round of relief, while others may believe that the economy is already recovering on its own.
Ultimately, whether or not there will be a fourth stimulus check remains to be seen. In the meantime, Americans await the arrival of their third payments and hope for continued economic recovery in the months ahead.
| Pros of a Fourth Stimulus Check | Cons of a Fourth Stimulus Check |
|---|---|
| Could provide much-needed relief to struggling households and businesses. | Could be costly and add to the national debt. |
| Could help spur economic growth and job creation. | Could lead to concerns about inflation and price increases. |
| Could provide support for people who are still struggling to find work or pay for basic needs. | Could face opposition from some lawmakers who feel that the economy is already recovering on its own. |
While there are valid arguments on both sides of the debate, only time will tell whether or not a fourth stimulus check is in the cards for Americans.
Differences between the first, second, and third stimulus checks
The stimulus checks, which are officially known as Economic Impact Payments, are part of the government’s efforts to help ease the financial burden caused by the COVID-19 pandemic. Since the first stimulus check was introduced in early 2020, there have been a few changes in the program, which reflect the changing needs of the country. Below are the differences between the first, second, and third stimulus checks.
- Amount: The amount for the first stimulus check was $1,200 per person, while the second stimulus check was $600 per person. The third stimulus check is $1,400 per person.
- Eligibility: The eligibility requirements for each stimulus check have been different. For the first stimulus check, anyone with a Social Security number who is not claimed as a dependent could receive it. The second stimulus check had similar eligibility criteria, but it excluded anyone who was claimed as a dependent. The third stimulus check has expanded the eligibility criteria to include dependents of any age and undocumented immigrants with a taxpayer identification number.
- Delivery: The first stimulus check was delivered predominantly through direct deposit, while the second check was also sent out in the form of prepaid debit cards and paper checks. The third round of payments is also being delivered through direct deposit, paper check, and prepaid debit cards.
- Timing: The timing for the delivery of the first and second stimulus checks varied. The first round of payments began in April 2020 and continued throughout the summer. The second round of payments began in December 2020 and concluded in January 2021. The third stimulus check started to be mailed out in early March 2021 and is expected to continue throughout the spring and possibly into the summer.
- Qualifying dependents: The first and second stimulus checks only included a $500 payment for qualifying dependents under the age of 17. The third stimulus check includes a $1,400 payment for dependents of any age.
- Tax implications: The first and second stimulus checks were not subject to income tax, but they could affect future tax returns. The third check is the same. It is not considered taxable income, but it could affect the recovery rebate credit on a taxpayer’s 2021 return.
Conclusion
The third stimulus check builds on the shoulders of the previous rounds of payments to provide more comprehensive relief to American taxpayers. It is clear that the government has taken into account the issues with the previous stimulus programs and has made necessary changes for the betterment of its citizens. Although questions continue to arise about the stimulus program’s efficacy, the American people can rest assured that the government is doing its best to provide them with much-needed financial support in this difficult time.
Tips for managing and using your stimulus check wisely
As many people know, a third round of stimulus checks is on its way with the aim of addressing the financial setback brought about by the COVID-19 pandemic. The money can offer some much-needed relief, but it is essential to use it wisely. To help ensure you make the most of this influx of cash, here are some tips to consider:
- Create a budget:
- Prioritize your needs:
- Pay off debt:
- Invest in your future:
- Don’t overspend:
- Avoid scams:
- Consider donating:
Before spending any of the stimulus check, it is essential to create a budget first. This step will help you prioritize your needs and allocate the money accordingly. Consider all your bills, monthly expenses, and any outstanding debts to determine the best use of your funds.
Once you have created a budget, prioritize your basic needs first. The essentials, such as food, shelter, and utilities, should be taken care of before any other expense. Making these payments on time will help ensure your financial stability in the long run.
If you have any outstanding debts such as credit card balances, student loans, or medical bills, consider allocating a portion of your stimulus check payment to pay off these debts. This will help you reduce the overall amount of interest you will pay over time and improve your credit score.
Consider using a portion of your stimulus check to invest in your future. This could mean investing in your education, starting a business, or saving for retirement. Investing in yourself will help you improve your earning potential in the long term.
Refrain from using your stimulus check for unnecessary purchases or luxury items. Instead, focus on essential needs and long-term investments. Overspending can lead to further financial struggles, making it challenging to pay bills or cover monthly expenses.
Beware of scammers who may try to con you out of your stimulus check. The IRS will never ask for your personal information or payment over the phone or through an email. If you are unsure about any request, contact the IRS or a financial professional to assist you.
If you have met your immediate needs and still have money leftover, consider donating to a charitable organization. Many families are struggling during this pandemic, and your generosity could make a difference in their lives.
Summary
Receiving a stimulus check can be a relief, but it is vital to use the funds wisely. Establish a budget and prioritize essential needs first. Consider paying off debts, investing in yourself, and avoiding overspending or potential scams
Stimulus Check Mailing Dates
| Payment Date | Payment Method |
|---|---|
| March 17, 2021 | Direct Deposit |
| March 24, 2021 | Check Mailed |
| April 7, 2021 | Prepaid Debit Card Mailed |
If you have not received your stimulus check, be sure to check the IRS Get My Payment tool for updates on the status of your payment.
FAQs: When Was the Third Stimulus Check Mailed?
1. Has the third stimulus check been mailed out?
Yes, the third stimulus check has already been mailed out to eligible Americans.
2. When did the third stimulus check begin to be mailed out?
The third stimulus check began to be mailed out in mid-March 2021.
3. Do I need to do anything to receive the third stimulus check?
No, if you are eligible for the third stimulus check and have filed your taxes for either 2019 or 2020, the IRS will automatically send the payment to you via mail or direct deposit.
4. How long does it take for the third stimulus check to arrive in the mail?
It can take several weeks for the third stimulus check to arrive in the mail. However, if you signed up for direct deposit with the IRS, the payment will likely arrive much faster.
5. What if I’m still waiting for my third stimulus check?
If you’re still waiting for your third stimulus check and believe you are eligible, you can check the status of your payment on the IRS website.
6. Does the third stimulus check have an expiration date?
No, the third stimulus check does not have an expiration date. If you are eligible and have not yet received your payment, you can still expect to receive it in the coming weeks.
Closing Thoughts
Thank you for reading our FAQs about when the third stimulus check was mailed. We hope this article has helped answer any questions you may have had about the timing of the payment. Don’t forget to check your status on the IRS website and stay tuned for any updates on future stimulus payments. We appreciate your visit and hope to see you again soon.