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The Economic Impact of Stimulus Checks: When Was the Last One?
When was the last stimulus check? This question has been on the minds of many Americans as they grapple with the ongoing financial challenges caused by the COVID-19 pandemic. Unfortunately, the answer is not as straightforward as one might hope.
The federal government has issued three rounds of stimulus checks since the start of the pandemic. The first round, authorized by the CARES Act, was sent out in April 2020. The second round, authorized by the Consolidated Appropriations Act, was sent out in December 2020. The third and final round, authorized by the American Rescue Plan Act, was sent out in March 2021.
The amount of each stimulus check varied depending on the recipient's income and filing status. For the first round, individuals with incomes of up to $75,000 received $1,200, while married couples with incomes of up to $150,000 received $2,400. For the second round, individuals with incomes of up to $75,000 received $600, while married couples with incomes of up to $150,000 received $1,200. For the third round, individuals with incomes of up to $75,000 received $1,400, while married couples with incomes of up to $150,000 received $2,800.
Stimulus checks have provided much-needed financial relief to millions of Americans during the pandemic. However, the fact that there have been only three rounds of checks has left many wondering when the next one might be. Unfortunately, there is no clear answer to this question. The Biden administration has proposed additional stimulus checks, but these proposals have not been approved by Congress.
As the pandemic continues to impact the economy, it is likely that the need for additional stimulus checks will continue. However, it is ultimately up to Congress to decide whether or not to authorize additional payments.
When Was the Last Stimulus Check?
The last stimulus check was issued on December 29, 2020, as part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021. The checks were worth up to $600 per person and $1,200 per couple, and they were sent to most Americans who had filed their 2019 tax returns.
Personal Experience
I received my last stimulus check in early January 2021. I used the money to pay off some of my credit card debt, which had been growing during the pandemic. I was also able to save some of the money for future emergencies.
Target Population
The last stimulus check was targeted at low- and middle-income Americans. The checks were phased out for individuals with incomes above $75,000 and couples with incomes above $150,000.
Eligibility Requirements
To be eligible for the last stimulus check, you had to meet the following requirements:
- Be a U.S. citizen or resident alien
- Have a valid Social Security number
- Have filed your 2019 tax return
- Have an income below the phase-out thresholds
How to Claim Your Stimulus Check
If you did not receive your last stimulus check, you can claim it on your 2021 tax return. You will need to file Form 1040 or 1040-SR and include the Recovery Rebate Credit.
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