How to Qualify For 2020 and 2023 Stimulus Checks

2023 stimulus checks

2023 stimulus checks are payments from the federal government sent to Americans during periods of economic hardship or crisis. The federal government has already distributed three rounds of these payments between 2020 and 2021 to help alleviate financial burdens caused by the COVID-19 pandemic and subsequent job loss, high food prices, and rising inflation.

These payments are made by the government via paper check or direct deposit to individuals. They are designed to stimulate spending by individuals and increase revenue for retailers and manufacturers who depend on consumer spending to thrive. A fourth round of these relief payments, also known as “stimulus four,” is currently being debated.

Maximizing Your Finances: How to Use Your 2023 Stimulus Check Wisely

Whether you qualify for a stimulus check depends on both general and state-specific eligibility requirements. General eligibility criteria include being a U.S. citizen or permanent resident, not being claimed as a dependent on someone else’s tax return, and meeting income thresholds that differ by state. The third stimulus check also allows all household members who have a Social Security number (SSN) or Individual Taxpayer Identification Number (ITIN), regardless of age, to be included in the payment.

In addition, some states have their own special incentives for residents in the form of rebates, loans, and other one-time payments. Some of these are a result of their budgets running surpluses following billions in pandemic relief from the federal government, while others have tapped into savings in their retirement accounts or other assets to send back to residents. The eligibility criteria, amount, and delivery timelines for these special state payments vary from state to state.