When Will People In Texarkana See Their Stimulus Checks?
Now that President Biden has signed the 1.9 trillion bill into law yesterday the big question is when will you see your $1400 check and will you even qualify?
According to a story on Yahoo Money, those checks may begin to arrive as early as next week. President Biden said
"In the weeks that this bill has been discussed and debated, it's clear that an overwhelming percentage of the American people — Democrats, independents, our Republican friends — the people out there made it clear they very strongly support the American Rescue Plan."
So here are the details on the payment and if you qualify. A single person that earns less than $75,000 will get the full $1400 payment plus an additional $1400 for any dependent. If you earn $80,000 will get a reduced amount.
People who are without a job get a major perk from the plan as well. $300 a week plans were extended through September 1st. These benefits were set to expire this weekend. There is also a big tax break for those unemployment benefits. There will be no taxes on the first $10,200 of unemployment benefits. The big omission from the bill was the $15 minimum wage hike that was removed early in the negotiation process.
The plan also improves the child tax credit making it refundable up to $3000 per child and $3600 for kids under 6.
If you have set up a direct deposit with the IRS for your returns will get your checks as soon as this weekend with the remaining folks getting their checks in the next couple of weeks.
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