The federal government is set to offer a 4th stimulus check of $2,000 to eligible Americans and a $200 increase in monthly Social Security benefits. The initiative is intended to help citizens impacted by the pandemic and inflation. The official notification of the payment is expected to be released soon, in November 2024, to the beneficiaries’ bank accounts. This article describes how you can check the status of the stimulus payment, get informed about the payment date, and discuss many other important issues.
$200 Increase & $2000 4th Stimulus Check
COVID-19 has profoundly impacted the American economy, affecting millions of Americans. In response, the American government has taken several financial support measures to provide much-needed relief to affected Americans. As we move closer to the 2024 deadline, many citizens still struggle to make ends meet due to rising food prices and inflation. The proposed $2,000 fourth stimulus check and $200 increase reflect the government’s commitment to supporting those facing this hardship.
Although there has been no official confirmation from the IRS about the $200 increase + $2,000 fourth stimulus check for Americans, both proposals are under discussion as they seek to ease the economic downturn and inflation that has hit citizens in the wake of the pandemic. Social Security recipients can expect a modest COLA increase starting in January 2024.
Overview of the $200 Increase & $2000 4th Stimulus Check
The report suggests that the federal government will release a $200 increase and a $2,000 stimulus check in November 2024. Earlier, the government has provided various exemplary financial assistance in the form of stimulus checks and Social Security benefits, the main objective of which is to improve the lives of people living below the poverty line in the country.
| Organization | Internal Revenue Service (IRS) |
| Social Security Increase (COLA) | Social Security benefits will increase by 3.2% starting in 2024, roughly a $49 monthly increase for beneficiaries. Everest benefits will increase by $1,907. |
| Program Type | 4th Stimulus Checks |
| Amount | $200 Increase & $2000 |
| Expected Payment Released Date | October 2024 |
| Payment Mode | Direct Deposit(tentative) |
| Status | Awaiting for Confirmation |
| Category | Government Aid |
| Website | https://irs.gov/ |
Who Would Be Eligible for a $200 Increase & $2000 4th Stimulus Check?
If this scheme is confirmed, its eligibility criteria will be the same as the eligibility criteria for the previous stimulus check.
- It is believed that an individual earning up to $75,000 and a joint filer earning up to $150,000 can apply for this scheme.
- This model could also be used in cases where past stimulus checks had a fund allocated for each family’s dependents.
- Applicant must be a U.S. citizen or permanent resident and provide a valid Social Security number to receive the premium.
State-Level Financial Assistance Programs
Keeping in mind the people affected by the increase in the prices of daily necessities and inflation, many states have launched their own financial assistance programs in collaboration with federal efforts. This article describes some of the states’ own financial assistance programs below.
- California’s Golden State Stimulus Program: This program provides one-time payments ranging from $200 to $1050 to California residents with incomes under $75,000 and who have filed a 2020 tax return.
- Maine: Maine residents affected by a natural disaster are provided with $850 in financial assistance through the Disaster Relief Payment Program.
- Pennsylvania: Through this program, eligible Pennsylvania residents receive up to $975 in financial relief on their property tax/rent rebate program.
IRS Stimulus Checks Get My Payment
- To check the payment status of the stimulus check, the applicant must visit the official website of the IRS.
- Then, the homepage will open in front of you; from there, you have to find the Get My Payment tool and click on it.
- Then, a login page will open in front of you where you will have to log in by entering your social security number, date of birth, and mailing address.
- After logging in, you can view the status of your stimulus payment and see when the payment is scheduled for deposit.
When will the $200 Increase & $2000 4th Stimulus be distributed?
The expected date for the fourth stimulus check of $2,000 is October 2024. However, no specific date has been announced yet.
Is the $200 Increase & $2000 4th Stimulus approved?
No, it has not been approved yet, it is still in the proposal stage.