Second Stimulus Check is assistance from the federal government to help families with their financial hardships. The said program was enacted last December 27, 2020, as former U.S. Pres. Donald Trump signed the $900 billion stimulus check package. It mainly allows eligible individuals or families to spend the amount given to them for the stimulation of the economy.
The said program also helps unemployed individuals and those who are at risk of rental eviction. Financial assistance will be given as a payment check or debit card. The Internal Revenue Service handles and manages the disposition of Economic Impact Payments. Moreover, eligible beneficiaries for these programs should be independent taxpayers of the United States.
As individuals continue to struggle with the pandemic, a stimulus check was created to assist each family. The first tranche of the Second Economic Impact Payment was enacted last March 20, 2020, under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
There’s still a huge number of Americans who are not able to get financial assistance. Due to the demand of individuals, Second Economic Impact Payment was created to cater to and help more families.
The second Economic Impact Payment benefited more individuals as it is different from the first tranche. The eligibility requirements for the said program were changed compared to the first tranche. However, it cut off most of the middle families upon having the said benefit. But the Economic Impact Payment did not end on its second tranche, the third stimulus check was opened.
As the Stimulus Check eligibility requirements are different from the first one, it enables more individuals or families to have the said assistance. Below are the qualification rules to be eligible for the Stimulus Check.
An individual is not eligible for the second stimulus check if you are:
As the eligibility requirements for the Second Economic Impact Payment are different from the first tranche, the assistance value also differs. The amount that an individual or partner can receive from the second stimulus ranges from $600 to $1,200. It is half of the assistance given from the first tranche. However, it will be based on the type of filing (whether you file as a single or couple) and on your income.
How Can I Get A Stimulus Check?
There’s no application process needed upon getting your Stimulus Check. Once you’ve filed a tax return, you should provide your bank information. If you’re qualified, the payment will be sent through a direct bank transfer. Payment would be from the Internal Revenue Service or the U.S. Department of Treasury as they handle the disposition of Economic Impact Payments throughout the nation. Furthermore, you must receive verification through email as you’ve qualified for the program.
Many eligible individuals did not receive their Stimulus Check because of different reasons and causes. As a solution, individuals can get their stimulus check from the 2020 Recovery Rebate Credit. The eligible individuals who did not receive any amount or less than the full amount of their second stimulus can receive it by filing a 2020 tax return.
Borrowers in Virginia who used Big Picture Loans between June 2013 and December 2019 faced a potential usury scheme. A class-action lawsuit alleged the lender charged illegal interest rates and used deceptive tactics, leading to a settlement offering compensation to eligible borrowers.
Housing assistance programs are designed to provide affordable housing solutions for low-income individuals and families who might otherwise struggle to make ends meet. These programs come in various forms, from rental assistance to home buying programs, and can be offered by the government, non-profit organizations, and private companies.
Veteran loans, backed by the Department of Veterans Affairs, offer a pathway to homeownership for those who have served in the U.S. military. With competitive interest rates and often no down payment requirement, these loans provide an accessible and supportive financial solution for our nation's heroes.
