Posted on 06/08/2021 3:22:59 AM PDT by LouAvul
There's a new stimulus payment on the way from the IRS. It's part of the massive $1.9 trillion coronavirus relief package signed by President Joe Biden back in March. There's a date for you to circle on your calendar and there's one big difference between the previous payments (for $1,200, $600, and $1,400) that people received earlier this year and this new payment.
July 15th is when the next round of money will begin being distributed by the IRS.
But that's not the only date that people will receive the money. This new payment is recurring. People who qualify for the money will get payments on the 15th of each month until the end of the year.
This next round of payments adds up to $3,600 dollars. Parents with children under 6 years old will receive payments of $300 per month. Families with children aged between 6 and 17 years old will receive $250 per month. The payments are capped at $3,600 for children under 6 years old, and $3,000 for people 6 and older.
People who make less than $75,000 as individuals and $150,000 for married couples filing jointly will be eligible for the full expanded federal child tax credit. The credit phases out at $95,000 and $170,000 respectively.
This tax credit will be available to a lot of people.
About 39 million households, (88% of all children living in the US) are expected to start receiving these new stimulus checks. Most of those households won’t have to do anything to start receiving the payments. From the IRS: "While most taxpayers will not be required to take any action to receive their payments, Treasury and the IRS will continue outreach efforts with partner organizations over the coming months to make more families aware of their eligibility.” There's more information on the IRS website.
So $170,000/year is wealthy. Down from $1,000,000/year during the left’s “pay your fair share” days.
The federal government is OOC.
5.56mm
You’re a cheapskate. Make it a $1,000/hour minimum wage!
Travel Advisory: WARNING - Do not fly or visit an airport July 15 through the end of the year.
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