Update On The Stimulus Check: Thousands Of People Are Still Owed Money

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According to federal data, thousands of Americans living abroad got stimulus cheques during the Covid-19 outbreak.

While this may seem at odds with the notion of “stimulus” for the US economy, tax policy experts say Congress had a valid basis for sending monies overseas.

They’re casting a wide net, and [money] could end up in locations where people wonder, ‘Did they really have to go there?’ “Senior fellow at the American Enterprise Institute, a right-leaning think group,” Kyle Pomerleau stated. However, I believe the response is a resounding ‘Yes.’

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The IRS delivered more than 3.7 million payments totalling $5.5 billion to Americans living outside of the 50 states and Washington, D.C., according to IRS records. Three rounds of pandemic-era payments are included in the data through June 3, 2021. Since then, it’s possible that additional funds have been sent.

The data includes citizens of the United States living abroad, military personnel stationed abroad, and residents of US territories such as Puerto Rico. (While US territories aren’t technically “overseas” in the same way that other countries are, the IRS doesn’t keep track of them separately.)

1% of The Population

According to the US Department of State, around 9 million Americans live abroad.

Because of Congress’s broad eligibility criteria, it’s only reasonable that many of them will receive checks, according to Pomerleau.

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The offshore payments are likewise minor in comparison to the total, accounting for only 0.7 percent and 0.8 percent of the $803 billion and $472 million in payments distributed over three rounds of funding, respectively.

During in the pandemic, Congress authorised the IRS to send out stimulus cheques three times: in March 2020 (up to $1,200 per individual), last December ($600), and this March ($1,400).

Technically, the monies are advance payments of a refundable tax credit (the recovery rebate credit). The advance payments are known as Economic Impact Payments, which is the legal word for what we’ve come to call “stimulus checks” in the United States.

According to tax policy experts, however, the name “stimulus checks” is a misnomer.

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