With the ongoing economic challenges being faced by the Americans due to worldwide geo-political issues after the pandemic, discussions regarding additional stimulus checks to alleviate the financial stability have gained momentum. One proposal that’s captured widespread attention is the notion of implementing $1,200 Per Month Stimulus Checks 2024 Coming For Everyone.
Many argue that such direct payments could alleviate financial burdens, stimulate consumer spending, and increase the chance of economic recovery. However, the feasibility of such a policy remains subject to intense debate. In this article, we delve into the reason behind this proposal, expected eligibility criteria etc. Stay tuned for more!
$1,200 Per Month Stimulus Checks 2024
Stimulus checks are the direct payments which were issued previously by the federal government during the pandemic era (i.e., 2019-2021) to the eligible individuals like low-income people, senior citizens, and their dependents etc. These checks had some goals like alleviating economic activity and providing financial relief to the eligible beneficiaries during the times of economic instability due to pandemic. By providing the stimulus checks, the government encouraged higher consumer spending during the pandemic, thereby supporting struggling businesses and decrease financial burdens on them.
As mentioned earlier, the stimulus checks were provided in three phases to the eligible U.S. citizens and green card holders based on minimum income cut-off, with amounts varying in each round such as: $1,200, $600, and $1,400.
There has been a proposal to revive the similar stimulus checks of the past as per the current scenario. The proposed $1,200 per month stimulus checks has been put forward by the representatives from various states in the US House of Representatives. The purpose of $1,200 per month stimulus checks would be like the ones sent out in the past, i.e., stimulate the financial instability and provide further support to the ones who are dealing with economic challenges by providing the increased amount after the increase in COLA by 3.2%. The expected eligibility criteria can include collecting the applicable Social Security benefits, while being in the minimum threshold income zone, and should have filed for tax returns if applicable.
If the bill is passed for $1,200 per month stimulus checks, then it would be applicable to some of the selected states as per the economic conditions.
$1,200 per month stimulus checks : Overview
| Name | $1,200 per month stimulus checks |
| Country of Origin | USA |
| Regulating Body | IRS |
| Year | 2024 |
| Category | Financial Aid |
| Objective | Mitigating financial crisis for low-income. |
| Applicable persons | Low-income, disabled individuals and their dependents. |
| Age Limit | 19+ years |
| Payment Amount (after 3.2% increase in COLA in 2024) | $1200 |
| Payment Mode | Online (Direct Deposit) |
| Payment Duration | Every month |
| New Payment Starting Month | April 2024 (expected) |
| Expected payment week | Last week of April 2024 |
| Website | https://www.irs.gov/ |
Who Can Claim $1,200 per month stimulus checks ?
Following are the expected eligibility criteria for $1,200 per month stimulus checks if the bill is passed:
- Residency: To qualify, you must either be a naturalized citizen or a valid permanent resident of the United States. It is essential to provide proper documentation confirming your address.
- State of Residency: You must be residing in a particular state for at least a minimum of 5 years or as per the state government rules.
- Age: Eligibility requires you to be at least 19 years old.
- Income Threshold: The income threshold must not exceed specific limits. IRS can determine this through the taxes being filed every year:
- For singles, the minimum income should not exceed $168,600.
- For couples, the combined income must be below $160,200.
- Disability Documents If you are disabled, then proper medical documents confirming your disability are required.
$1,200 Monthly stimulus payment Mode & Date
Basically, the expected payment mode for $1,200 per month stimulus checks will be online with direct payment deposited in the account of the qualifying individuals. For the ones not having active bank account, they will be provided with paper checks through which they can withdraw the amount.
If the approval for $1,200 per month stimulus checks is provided in April, then the expected payment dates will be out probably by the second week of April and beneficiaries can expect the payment to be made within the last week of April or first week of May.
$1,200 per month Stimulus checks 2024 Apply & Status Check
- There is no separate process to apply for$1,200 per month stimulus checks. Eligible individuals will have their information sent from the SSA to the IRS for verification and payment distribution.
- To check the status, login to the IRS account to review all the Economic Impact Payments. This will be under the Tax Records section. If you have received all the previous payments, then IRS will show the pending status for $1,200 per month stimulus checks along with the expected date of payment.
$1,200 Per Month Stimulus Checks 2024 Coming Fact Check
There have been many rounds of discussions in the House of Representatives regarding $1,200 per month stimulus checks. While the House of Representatives are preparing to make this as a bill to be passed into the Parliament, still they are yet to announce the final verdict. Please note that this is not related to the fourth round of stimulus checks. This expected payment will be the separate stimulus checks for low-income individuals and it might be applicable to only selected states at the start. It is advised to regularly check the IRS website regularly for any kind of news.
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