About 9 to 10 million taxpayers will begin receiving COVID-19 stimulus payments worth up to $3,200 on Wednesday.
Low-income U.S. citizens are receiving these payments thanks to funds leftover from the child tax credit or COVID-19 relief stimulus checks, according to the Government Accountability Office. Eligible taxpayers needed to file simplified tax returns by the deadline, which was Tuesday.
STIMULUS UPDATE: DIRECT $1,050 RELIEF PAYMENTS LOADED ONTO DEBIT CARDS TO BE SENT OUT BY JANUARY
From April 2020 to December 2021, Congress authorized the payment of $931 billion to 165 million eligible citizens through direct stimulus payments across three waves to alleviate the financial burdens of the COVID-19 pandemic.
A person with an income below $75,000 and married couples with a combined income below $150,000 were eligible for all three waves of payments.
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Between July and December 2021, the child tax credit benefited an estimated 84% of U.S. children.
