![]() And almost one-third of households continue to cope with reduced income due to the pandemic, according to a recent study from TransUnion. A quarter of Americans struggled to pay their household expenses in the previous week, according to Census survey data from June 23 to July 5. Many families continue to struggle with a financial hit to their income since the pandemic, with the unemployment rate standing at 5.9%, or still far higher than its pre-pandemic level of 3.5%. About 1 in 4 people on unemployment will lose their benefits from the early cutoff of jobless benefits, according to an estimate from the Century Foundation, a liberal-leaning think tank. The latest batch of checks comes as 26 states have or will soon end enhanced unemployment aid, cutting of millions of jobless workers from $300 in weekly jobless aid two months before the federal funding is due to expire. And another 900,000 payments were for plus-up adjustments for people who qualified for bigger checks based on recently processed 2020 tax returns, the IRS said. That's because the IRS prioritized sending checks to people who had already filed their 2019 or 2020 tax returns, since the agency was able to quickly verify eligibility based on income and also determine where to mail they checks or directly deposit the money in known bank accounts.īut some others, such as those who aren't required to file tax returns or who claimed adjustments on their payments, have had to wait for the IRS to process their payments.Īmong the 2.2 million payments are 1.3 million checks sent to people who recently filed a tax return and for whom the tax agency didn't previously have enough information to issue the money. During the Great Recession, for instance, the first direct deposit of relief payments was issued within 11 weeks, while the first paper checks were sent within 13 weeks.While the latest stimulus payments began hitting bank accounts in March, some people have had to wait weeks or months for their checks. ![]() That’s very fast by historical standards, according to the paper. They found that the first direct deposit payments were sent out within two weeks of the passage of the CARES Act (the legislation that authorized the first round of emergency payments), and the first paper checks were mailed within a month. The researchers also analyzed how fast people received payments. There were also differences across racial groups, with white individuals most likely to receive a check if eligible (94%) and Hispanic individuals among the least likely (87%). The share of eligible people over age 60 who received a payment was especially high at 94%, which the researchers attribute to the federal government’s effort to reach Social Security recipients. But still, it means that millions of Americans could have gotten a check did not receive one - despite the IRS's efforts to distribute credits to every eligible person. The researchers point out that this is relatively high rate of receipt. ![]() In total, the researchers found that nearly 228 million people were potentially eligible for a check - that means 92% of people who were eligible for a check actually received one. Hawaii Alaska Florida South Carolina Georgia Alabama North Carolina Tennessee RI Rhode Island CT Connecticut MA Massachusetts Maine NH New Hampshire VT Vermont New York NJ New Jersey DE Delaware MD Maryland West Virginia Ohio Michigan Arizona Nevada Utah Colorado New Mexico South Dakota Iowa Indiana Illinois Minnesota Wisconsin Missouri Louisiana Virginia DC Washington DC Idaho California North Dakota Washington Oregon Montana Wyoming Nebraska Kansas Oklahoma Pennsylvania Kentucky Mississippi Arkansas Texas Open an Account Today Who received stimulus checks, and how quickly?
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