NEWS UPDATE Are you one of the millions who owe up to $3,800 in stimulus payments by 2022?

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Americans are receiving stimulus payments since the start of the pandemic – and there is cash still available in 2022 worth $3,800 in total. However, some are still owed payments.

Thousands of U.S citizens living abroad received stimulus checks during the Covid-19 pandemic, in keeping with federal data. Overall, there are three rounds of federal stimulus payments, which have gone resolute Americans nationwide. The latest included payments worth up to $1,400 under the American Rescue Act, signed into law by President Joe Biden in March. Although tens of several Americans have gotten their third round of federal stimulus payments.

Congress authorized the IRS to send stimulus checks 3 times during the pandemic: in March 2020 (up to $1,200 a person), last December ($600) and this past March ($1,400). The funds are technically advance payments of a refundable reduction (the recovery rebate credit). The advance payments are called Economic Impact Payments — the legislative terminology for what Americans have come to call “stimulus checks.”

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Janet Holtzblatt, a senior fellow at the Urban-Brookings programme Center said, “One perspective on these payments is that they were primarily intended to assist taxpayers cover their day-to-day expenses, with any stimulus the icing on the cake, if assistance to struggling families is that the intended goal, then whether U.S. citizens live here or abroad isn’t a vital distinction within the midst of a worldwide pandemic,”

The purpose of “stimulus checks” aimed to stimulate demand for goods and services within the U.S. economy by sending money to households and buckles up the families from starving from COVID-19 pandemic. These stimulus check’s primary intent was to sustain household finances at a time of mass unemployment and financial hardships by allocating a portion of the Government’s annual budgetary.

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