5th Stimulus Check

The Internal Revenue Service and Department of Treasury rolled out over 167 million stimulus payments in the second and third rounds. With the increased stimulus amount in 2021, lots of taxpayers are looking forward to a possible 5th stimulus check. Even as of June, we haven’t received the fourth stimulus check. With the number of people getting vaccinated and the vaccines becoming more accessible not just in the states, but around the world, it’s very unlikely that we will receive a fifth stimulus check.

The Congress has issued more than one stimulus payment to many Americans, totaling over $850 billion. If you’re expecting a fourth or fifth stimulus check, we highly suggest thinking otherwise as there won’t be a such thing.

Getting stimulus payments from the IRS

For most people, getting their stimulus payments from the IRS is very straightforward. The agency issues the payments either by check or direct deposit into their bank accounts. If the IRS doesn’t have your bank account information or mail address, you won’t get it immediately. To get your stimulus payment from the IRS that you haven’t been issued automatically, file a tax return even if you’re not required to give your information. 

Although you might think filing a return doesn’t have anything to do with the stimulus checks, know that these were actually an advanced payment of the recovery rebate credit. So, taxpayers who haven’t received their payments can file a return to let the IRS know about their payment information. 

When will I get my fourth stimulus check?

While it’s quite expected from everyone to anticipate for a fourth, and even a fifth stimulus check, the Congress hasn’t approved it yet. Let alone when you will get your next stimulus check, you should ask will I receive a fourth or fifth stimulus check. Now that everything looks like we’re getting closer to the end of the pandemic, there is a very slim chance that we will get another stimulus payment. If a new stimulus check is in the making, we will keep you updated. In the meantime, the likelihood of a next stimulus check is very slim. Having all this said, don’t wait up for the next stimulus check because it isn’t on the horizon based on what we know so far.

One Comment

Leave a Reply

Your email address will not be published.

Back to top button