{"id":4927,"date":"2021-03-31T15:25:54","date_gmt":"2021-03-31T07:25:54","guid":{"rendered":"https:\/\/expattax.com\/?p=4927"},"modified":"2021-03-31T15:25:56","modified_gmt":"2021-03-31T07:25:56","slug":"third-stimulus-check-in-the-m","status":"publish","type":"post","link":"https:\/\/expattax.com\/third-stimulus-check-in-the-m\/","title":{"rendered":"Stimulus Checks \u2014 A Welcome Boost for Expats"},"content":{"rendered":"\n

Having survived a festive season hampered by lockdown, and then Blue Monday in January, and \u2014 in many places \u2014 a frozen February, it\u2019s good to have something to look forward to. When it\u2019s also something that boosts consumption and drives revenue for retailers and manufacturers, thus spurring the economy, then that is even better. This is the rationale behind issuing checks, the very welcome and timely check the U.S. government sends to taxpayers. . First distributed during the Great Recession of 2008, President George W. Bush signed the Economic Stimulus Act in 2008 to alleviate the effects and stave off the recession. The act consisted of $152 billion that included a $600 tax rebate to low- and middle-class households. <\/p>\n\n\n\n

Stimulus checks and the coronavirus pandemic<\/p>\n\n\n\n

More recently, in March last year, the U.S. government enacted a bill that issued stimulus checks to provide relief to Americans for economic hardships caused by the coronavirus pandemic. Due to the economic impact of COVID-19, necessary payments and financial aid were made in order to assist struggling families. These are called Economic Impact Payments.\u00a0<\/p>\n\n\n\n

What\u2019s a stimulus check worth?<\/p>\n\n\n\n

The IRS and U.S. Treasury Department have begun issuing the following payments authorized by the CARES Act in April 2020.<\/p>\n\n\n\n