The White House has just announced the return of one of the most awaited social benefits of the year, which we told you about a few days ago. This new $1750 stimulus checks 2024 seems to have finally arrived, after receiving the official confirmation from Social Security. However, in this case it will be different: discover the eligibility and payment schedule.
$1750 Stimulus Checks 2024: all the details, explained by the Social Security
As a result of the COVID-19 outbreak, the quick onset of the unexpected economic crisis prompted the incoming of the federal government approval for three rounds of stimulus checks in 2020 and 2021. The first round of checks had the amount $1,200 per American adult, and $500 for every under-17 child dependent.
Indeed, now, some lawmakers are offering an extra stimulus by means of the 1750$ checks per adult and children distributed in 2024. Proponents would say that lots of Americans are still having problems economically from the COVID-19 “tentacles”.
The $1,750 economic check bill, which had come with a bipartisan Congressional support, is a sign for some amount of political sway towards that idea. However, passage remains uncertain. It will look into the major eligibility criteria for these applications, but it remains to be approved.
These are the requirements of the $1750 Stimulus Checks 2024
To be eligible for the proposed $1750 stimulus checks in 2024, recipients must meet certain income thresholds and other criteria.
Income Thresholds
Individual tax filers must have an adjusted gross income of $75,000 or less to receive the full $1,750 payment. The amount phases out for incomes up to $80,000, where it cuts off completely.
For married couples filing jointly, the phase-out range is $150,000 to $160,000 in adjusted gross income.
Heads of household with qualifying dependents have an income cap of $112,500. Above this amount, the payment decreases and eventually phases out.
Dependents and Families
Families are eligible to receive an additional $500 payment for each dependent child under age 17. Older dependents such as college students or elderly adults do not qualify.
The expanded eligibility aims to provide more relief for middle and low-income families struggling with childcare costs and expenses.
SSI/SSDI Recipients
Those receiving Supplemental Security Income (SSI) or Social Security Disability Insurance (SSDI) will qualify for stimulus payments as long as they meet the income thresholds.
These federal aid recipients were excluded from the first round of stimulus but included in later rounds. The proposed 2024 payments will maintain eligibility for SSI/SSDI beneficiaries.
Timeline of the $1750 Stimulus Checks 2024: that´s how you receive the money
The timeline for passage and distribution of the proposed $1750 stimulus checks for 2024 is not yet finalized, as the legislation is still being debated in Congress. However, based on past stimulus bills, we can expect the following general timeline if the bill is passed:
- April – June 2024: The IRS will work on updating their systems and getting payments ready for distribution. Direct deposits expected to go out first, likely starting in May 2024.
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May – July 2024: The first wave of stimulus checks expected via direct deposit into bank accounts. The IRS will send payments weekly in batches.
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June – August 2024: Paper checks will begin going out in the mail for those without bank account info on file. This is the slower process.
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July – September 2024: Ongoing payments sent out as the IRS processes forms and works through any issues. Additional waves of checks in the mail.
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September 2024: IRS expects to complete distribution of all payments to eligible Americans.
The IRS will again provide an online “Get My Payment” tool where people can check the status of their stimulus check. This is expected to roll out shortly after payments begin going out. The tool will provide information on whether your payment was sent, the payment method (direct deposit or mail), and the scheduled date.
As you can see, the $1750 stimulus checks 2024 is finally available, although the application period is limited. However, you still have several weeks to do so before they are replaced by others (for which, as we have learned, there is little time left). With income limits extended and eligibility made easier, this is your chance to receive this social benefit.